Norges Bank Acquires New Holdings in Waste Management, Inc. (NYSE:WM)

Norges Bank bought a new position in Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,003,846 shares of the business services provider’s stock, valued at approximately $1,009,726,000.

Several other large investors also recently made changes to their positions in WM. Global Wealth Strategies & Associates grew its holdings in Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after buying an additional 125 shares in the last quarter. General Partner Inc. acquired a new position in Waste Management during the 4th quarter worth $29,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Waste Management during the fourth quarter valued at $33,000. Sugar Maple Asset Management LLC acquired a new stake in Waste Management in the fourth quarter worth about $35,000. Finally, Richardson Financial Services Inc. grew its position in Waste Management by 65.7% in the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Johnson Varkey sold 560 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $220.11, for a total value of $123,261.60. Following the transaction, the senior vice president now owns 9,152 shares in the company, valued at approximately $2,014,446.72. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO John A. Carroll sold 209 shares of Waste Management stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.55, for a total transaction of $46,094.95. Following the completion of the sale, the chief accounting officer now owns 9,066 shares of the company’s stock, valued at $1,999,506.30. This trade represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 95,577 shares of company stock valued at $21,662,464 in the last three months. Insiders own 0.18% of the company’s stock.

Waste Management Trading Up 0.1 %

NYSE:WM opened at $229.16 on Friday. The stock has a market cap of $92.15 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $235.81. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.76 and a quick ratio of 0.85. The stock’s 50-day moving average is $224.25 and its two-hundred day moving average is $216.37.

Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 37.93%. As a group, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.825 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.30 dividend on an annualized basis and a yield of 1.44%. This is an increase from Waste Management’s previous quarterly dividend of $0.75. Waste Management’s payout ratio is 48.53%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WM. Oppenheimer boosted their price target on shares of Waste Management from $231.00 to $237.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Scotiabank upped their target price on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Jefferies Financial Group decreased their price target on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley boosted their price objective on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, CIBC lifted their target price on Waste Management from $227.00 to $247.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.65.

About Waste Management

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.