Tokio Marine Asset Management Co. Ltd. Boosts Stock Holdings in Waste Management, Inc. (NYSE:WM)

Tokio Marine Asset Management Co. Ltd. lifted its stake in Waste Management, Inc. (NYSE:WM) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,662 shares of the business services provider’s stock after purchasing an additional 670 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Waste Management were worth $1,551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gilfoyle & Co LLC purchased a new stake in Waste Management in the fourth quarter valued at approximately $30,000. Millburn Ridgefield Corp purchased a new stake in shares of Waste Management during the third quarter worth $35,000. Spirit of America Management Corp NY increased its holdings in Waste Management by 66.7% in the third quarter. Spirit of America Management Corp NY now owns 250 shares of the business services provider’s stock valued at $38,000 after buying an additional 100 shares during the last quarter. Rational Advisors LLC purchased a new position in Waste Management in the third quarter valued at $41,000. Finally, Annapolis Financial Services LLC increased its holdings in Waste Management by 40.1% in the third quarter. Annapolis Financial Services LLC now owns 325 shares of the business services provider’s stock valued at $50,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of WM traded down $2.33 during mid-day trading on Friday, reaching $210.37. 190,956 shares of the company’s stock were exchanged, compared to its average volume of 1,652,270. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 2.30. The company has a 50-day simple moving average of $208.37 and a two-hundred day simple moving average of $186.50. Waste Management, Inc. has a 52-week low of $149.71 and a 52-week high of $214.54. The company has a market cap of $84.42 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 3.19 and a beta of 0.72.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Waste Management had a net margin of 11.98% and a return on equity of 38.82%. The business had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the company posted $1.31 EPS. The company’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Waste Management, Inc. will post 6.88 EPS for the current fiscal year.

Waste Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Waste Management’s previous quarterly dividend of $0.70. Waste Management’s dividend payout ratio (DPR) is 49.10%.

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of Waste Management from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. BMO Capital Markets increased their target price on shares of Waste Management from $184.00 to $196.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. HSBC downgraded shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 target price for the company. in a research note on Thursday, February 15th. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Finally, Citigroup increased their target price on shares of Waste Management from $215.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.15.

Insider Buying and Selling

In related news, CFO Devina A. Rankin sold 775 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total transaction of $153,899.50. Following the sale, the chief financial officer now owns 75,204 shares in the company, valued at $14,934,010.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Waste Management news, EVP Charles C. Boettcher sold 2,500 shares of Waste Management stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $209.50, for a total value of $523,750.00. Following the transaction, the executive vice president now owns 29,677 shares in the company, valued at approximately $6,217,331.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 775 shares of Waste Management stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $198.58, for a total transaction of $153,899.50. Following the transaction, the chief financial officer now owns 75,204 shares in the company, valued at approximately $14,934,010.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,007 shares of company stock worth $3,696,520. 0.18% of the stock is owned by insiders.

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.