Thrivent Adds 10,746 Waste Management Shares in Fourth Quarter
Thrivent Financial for Lutherans increased its waste management stake by 18.6% in the fourth quarter, buying 10,746 more shares and bringing its total to 68,661 shares. The position was worth $15,120,000 at the end of the most recent reporting period.
Thrivent Financial for Lutherans
The filing shows the fund kept adding to Waste Management while several other institutional holders also adjusted their positions. Brighton Jones LLC lifted its stake by 51.1% to 6,861 shares, while Sei Investments Co. and The Manufacturers Life Insurance Company both added shares in the second quarter.
Waste Management stock is currently 80.40% owned by institutional investors, so changes like Thrivent's sit inside a broader pattern of professional money moving in and out of the name. Sprott Inc. opened a new position worth $325,000 in the first quarter, and Glenview Trust co also increased its stake during the second quarter.
Waste Management Ratings
Analyst updates around the stock have moved in the same direction. Royal Bank Of Canada raised its price objective to $240.00 on Thursday, April 30th and gave the company a sector perform rating, while TD Cowen lifted its target to $275.00 and kept a buy rating on the same day.
Earlier in the spring, JPMorgan Chase & Co. raised its target to $270.00 and assigned an overweight rating on Friday, April 10th, and Robert W. Baird moved its target to $260.00 with an outperform rating on Thursday, April 16th. Oppenheimer had already raised its objective to $264.00 on Friday, January 30th and kept an outperform rating.
Johnson Varkey
Not every move was a purchase. Johnson Varkey, senior vice president of Waste Management, sold 121 shares on Monday, March 9th at an average price of $245.27, for a total transaction of $29,677.67, and directly owned 9,293 shares after the sale.
For readers tracking the stock, the latest filing points to continued institutional repositioning rather than a single one-off trade. Thrivent's added 10,746 shares and $15.12 million stake show where one large holder stood at the end of the period, while the analyst targets and Varkey's sale show the stock was also moving through the market with active trading around it.
