BNP Paribas Has $11.84 Million Stake in Waste Management, Inc. $WM

BNP Paribas grew its stake in Waste Management, Inc. (NYSE:WM) by 25.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,761 shares of the business services provider’s stock after buying an additional 10,367 shares during the period. BNP Paribas’ holdings in Waste Management were worth $11,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Norges Bank acquired a new position in Waste Management during the second quarter valued at approximately $1,064,206,000. Valeo Financial Advisors LLC grew its stake in Waste Management by 15,782.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock valued at $395,512,000 after buying an additional 1,717,603 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares during the period. Sustainable Growth Advisers LP lifted its position in Waste Management by 55.5% during the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after acquiring an additional 1,034,258 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Waste Management by 26.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider’s stock valued at $774,000,000 after acquiring an additional 709,557 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Up 0.0%

Shares of Waste Management stock opened at $209.31 on Thursday. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58. The firm has a market capitalization of $84.33 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.58 and a beta of 0.58. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.80. The company’s fifty day moving average price is $211.44 and its two-hundred day moving average price is $222.17.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the firm posted $1.96 earnings per share. Waste Management’s revenue was up 14.9% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, December 5th. Waste Management’s dividend payout ratio is currently 51.97%.

Insider Activity

In related news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. DZ Bank initiated coverage on Waste Management in a research report on Tuesday, November 25th. They set a “buy” rating and a $250.00 price objective for the company. Truist Financial set a $260.00 price target on Waste Management in a report on Wednesday, October 29th. The Goldman Sachs Group assumed coverage on shares of Waste Management in a research note on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Finally, National Bankshares decreased their price target on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.14.

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.