Pictet Asset Management Holding SA Reduces Position in Waste Management, Inc. (NYSE:WM)

Pictet Asset Management Holding SA reduced its stake in Waste Management, Inc. (NYSE:WM) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,485,189 shares of the business services provider’s stock after selling 167,808 shares during the period. Waste Management makes up about 0.8% of Pictet Asset Management Holding SA’s holdings, making the stock its 22nd largest holding. Pictet Asset Management Holding SA’s holdings in Waste Management were worth $703,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of WM. Norges Bank bought a new stake in shares of Waste Management in the 4th quarter valued at about $1,009,726,000. Raymond James Financial Inc. purchased a new position in shares of Waste Management during the 4th quarter worth approximately $340,611,000. Parnassus Investments LLC raised its holdings in Waste Management by 22.5% in the fourth quarter. Parnassus Investments LLC now owns 6,272,009 shares of the business services provider’s stock worth $1,265,629,000 after purchasing an additional 1,151,237 shares in the last quarter. Vanguard Group Inc. lifted its position in Waste Management by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 37,300,278 shares of the business services provider’s stock valued at $7,526,823,000 after acquiring an additional 538,567 shares during the period. Finally, National Bank of Canada FI increased its position in Waste Management by 138.0% during the 3rd quarter. National Bank of Canada FI now owns 718,546 shares of the business services provider’s stock valued at $149,168,000 after buying an additional 416,579 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO John A. Carroll sold 1,251 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $225.92, for a total transaction of $282,625.92. Following the sale, the chief accounting officer now owns 8,420 shares of the company’s stock, valued at $1,902,246.40. This represents a 12.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John J. Morris sold 19,153 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.71, for a total transaction of $4,303,870.63. Following the transaction, the executive vice president now owns 85,257 shares of the company’s stock, valued at $19,158,100.47. This trade represents a 18.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,577 shares of company stock worth $21,662,464. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

NYSE WM opened at $229.16 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.76 and a debt-to-equity ratio of 2.73. Waste Management, Inc. has a twelve month low of $196.59 and a twelve month high of $235.81. The business has a 50-day moving average price of $224.25 and a 200-day moving average price of $216.37. The firm has a market cap of $92.15 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.71 and a beta of 0.75.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that Waste Management, Inc. will post 7.7 EPS 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. Stockholders of record on Friday, March 14th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.44%. This is a boost from Waste Management’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 14th. Waste Management’s payout ratio is 48.53%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. StockNews.com cut shares of Waste Management from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Scotiabank upped their price objective on Waste Management from $250.00 to $255.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. 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. Finally, Oppenheimer upped their price target on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target 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.