E. Ohman J or Asset Management AB Lowers Stock Holdings in Waste Management, Inc. $WM

E. Ohman J or Asset Management AB lessened its position in Waste Management, Inc. (NYSE:WM) by 20.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,117 shares of the business services provider’s stock after selling 3,403 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Waste Management were worth $2,882,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. acquired a new position in shares of Waste Management in the third quarter valued at approximately $1,583,000. Lockheed Martin Investment Management Co. acquired a new stake in Waste Management during the 3rd quarter worth approximately $3,092,000. Guerra Advisors Inc lifted its holdings in Waste Management by 59.5% during the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock worth $1,996,000 after buying an additional 3,371 shares in the last quarter. Compass Wealth Management LLC boosted its position in Waste Management by 537.0% in the 3rd quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider’s stock valued at $21,138,000 after buying an additional 80,695 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Waste Management by 19.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider’s stock worth $15,301,000 after acquiring an additional 11,135 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other news, SVP Johnson Varkey sold 121 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $245.27, for a total transaction of $29,677.67. Following the completion of the sale, the senior vice president owned 9,293 shares in the company, valued at approximately $2,279,294.11. The trade was a 1.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John J. Morris sold 4,211 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $243.38, for a total transaction of $1,024,873.18. Following the completion of the transaction, the chief operating officer owned 99,929 shares of the company’s stock, valued at approximately $24,320,720.02. The trade was a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,042 shares of company stock valued at $23,039,777 in the last quarter. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 1.2%

Shares of NYSE WM opened at $224.70 on Wednesday. The business has a 50-day moving average of $231.73 and a two-hundred day moving average of $220.68. The company has a market capitalization of $90.63 billion, a price-to-earnings ratio of 33.54, a price-to-earnings-growth ratio of 2.40 and a beta of 0.57. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.39 billion. During the same quarter in the previous year, the company posted $1.70 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $0.945 dividend. This is an increase from Waste Management’s previous quarterly dividend of $0.83. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, March 13th. Waste Management’s payout ratio is currently 56.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WM. TD Cowen increased their price objective on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their target price on Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, December 1st. Barclays reduced their price target on Waste Management from $266.00 to $265.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Wolfe Research assumed coverage on Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, UBS Group raised Waste Management from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $225.00 to $260.00 in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $254.59.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.