Waste Management, Inc. (WM) Holdings Trimmed by Sumitomo Life Insurance Co.

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Sumitomo Life Insurance Co. reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 10.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,114 shares of the business services provider’s stock after selling 2,512 shares during the period. Sumitomo Life Insurance Co.’s holdings in Waste Management were worth $2,298,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WM. Norges Bank purchased a new position in shares of Waste Management during the fourth quarter valued at about $402,210,000. Oregon Public Employees Retirement Fund raised its position in Waste Management by 8,644.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,823,989 shares of the business services provider’s stock worth $43,000 after acquiring an additional 3,780,259 shares during the period. Bessemer Group Inc. raised its position in Waste Management by 695.7% during the fourth quarter. Bessemer Group Inc. now owns 1,337,530 shares of the business services provider’s stock worth $119,027,000 after acquiring an additional 1,169,429 shares during the period. BlackRock Inc. grew its holdings in shares of Waste Management by 3.3% during the fourth quarter. BlackRock Inc. now owns 31,659,414 shares of the business services provider’s stock worth $2,817,372,000 after buying an additional 1,025,813 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Waste Management by 33.9% during the fourth quarter. California Public Employees Retirement System now owns 2,519,189 shares of the business services provider’s stock worth $224,183,000 after buying an additional 637,655 shares in the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $103.00 in a report on Thursday, January 10th. KeyCorp assumed coverage on shares of Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 price objective for the company. Oppenheimer upped their price objective on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 15th. Stifel Nicolaus lowered shares of Waste Management from a “buy” rating to a “hold” rating and set a $103.00 price objective for the company. in a report on Thursday, April 11th. Finally, Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $101.71.

In related news, CFO Devina A. Rankin sold 692 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $98.80, for a total value of $68,369.60. Following the sale, the chief financial officer now owns 22,128 shares of the company’s stock, valued at $2,186,246.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick W. Gross sold 365 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $93.03, for a total transaction of $33,955.95. Following the completion of the sale, the director now directly owns 53,058 shares in the company, valued at approximately $4,935,985.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,092 shares of company stock valued at $402,648. 0.14% of the stock is currently owned by insiders.

Shares of WM stock opened at $104.65 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 1.53. The stock has a market cap of $44.28 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 2.75 and a beta of 0.67. Waste Management, Inc. has a 1-year low of $79.96 and a 1-year high of $105.68.

Waste Management (NYSE:WM) last announced its earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.78 billion. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. Waste Management’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 4.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $0.5125 per share. This represents a $2.05 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio (DPR) is 48.81%.

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Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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