Czech National Bank Grows Stock Holdings in Waste Management, Inc. (NYSE:WM)

Czech National Bank boosted its holdings in Waste Management, Inc. (NYSE:WM) by 7.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,394 shares of the business services provider’s stock after buying an additional 4,842 shares during the period. Czech National Bank’s holdings in Waste Management were worth $15,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Ameriprise Financial Inc. grew its position in shares of Waste Management by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after purchasing an additional 12,664 shares in the last quarter. Capital World Investors grew its position in shares of Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. Legal & General Group Plc grew its position in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Waste Management by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after purchasing an additional 221,380 shares in the last quarter. Finally, AMF Tjanstepension AB grew its position in shares of Waste Management by 85.6% during the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock valued at $333,234,000 after purchasing an additional 720,358 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.5 %

WM traded down $1.00 during midday trading on Friday, reaching $208.09. The company’s stock had a trading volume of 985,160 shares, compared to its average volume of 1,652,823. The firm has a market capitalization of $83.51 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.32 and a beta of 0.74. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a 1 year low of $152.90 and a 1 year high of $225.00. The stock’s 50-day moving average is $206.74 and its 200-day moving average is $208.55.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.82. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. As a group, research analysts expect that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $3.00 dividend on an annualized basis and a yield of 1.44%. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WM shares. Robert W. Baird reduced their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Truist Financial dropped their price objective on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Royal Bank of Canada dropped their price objective on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. BMO Capital Markets dropped their price objective on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Finally, Oppenheimer dropped their price objective on shares of Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Twelve research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $218.89.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares in the company, valued at $9,711,680. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.