Thrivent Financial for Lutherans increased its stake in Waste Management by 18.6% in the fourth quarter, buying 10,746 more shares and lifting its holding to 68,661 shares worth $15,120,000 at the end of the most recent reporting period.
The move came as institutional investors continued to dominate the stock. About 80.40% of Waste Management shares are currently held by institutions, and several other firms disclosed fresh position changes in recent filings.
Brighton Jones LLC boosted its holdings by 51.1% in the fourth quarter, ending with 6,861 shares after adding 2,320. Sprott Inc. opened a new position in the first quarter valued at $325,000. Sei Investments Co. increased its position by 8.0% in the second quarter to 272,438 shares after buying 20,122 more. The Manufacturers Life Insurance Company lifted its stake by 68.2% in the second quarter to 366,416 shares after adding 148,590. Glenview Trust co raised its stake by 5.1% in the second quarter and held 3,338 shares after purchasing 162 more.
Those filings arrived alongside a series of analyst updates that pushed price targets higher even as ratings stayed mixed. On Thursday, April 30, Royal Bank Of Canada raised its target from $235.00 to $240.00 and kept a sector perform rating, while TD Cowen lifted its objective from $270.00 to $275.00 and maintained a buy rating. Earlier, on Thursday, April 16, Robert W. Baird increased its target from $248.00 to $260.00 with an outperform rating, and on Friday, April 10, JPMorgan Chase & Co. raised its target from $265.00 to $270.00 with an overweight rating. Oppenheimer also nudged its target from $263.00 to $264.00 on Friday, January 30, and kept an outperform rating.
MarketBeat.com data show Waste Management now carries an average rating of Moderate Buy, with one Strong Buy rating, fifteen Buy ratings and eight Hold ratings, and a consensus price target of $255.67. The backdrop is a stock that still has plenty of institutional support, but not a unanimous view on how much higher it should go from here.
There was also one insider sale in the period. SVP Johnson Varkey sold 121 shares on Monday, March 9, at an average price of $245.27, a transaction worth $29,677.67 that left him with 9,293 shares directly owned in the company.
