WT Wealth Management Acquires Shares of 6,948 Waste Management, Inc. $WM

WT Wealth Management bought a new position in Waste Management, Inc. (NYSE:WM) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,948 shares of the business services provider’s stock, valued at approximately $1,597,000.

A number of other large investors also recently made changes to their positions in WM. Merkkuri Wealth Advisors LLC bought a new stake in Waste Management in the 1st quarter worth about $57,000. Venturi Wealth Management LLC purchased a new position in shares of Waste Management in the 1st quarter worth approximately $362,000. HF Advisory Group LLC increased its position in shares of Waste Management by 2.0% during the first quarter. HF Advisory Group LLC now owns 3,992 shares of the business services provider’s stock valued at $917,000 after acquiring an additional 78 shares during the last quarter. VCI Wealth Management LLC purchased a new position in Waste Management in the first quarter worth $1,725,000. Finally, Unique Wealth LLC increased its position in shares of Waste Management by 4.4% during the 1st quarter. Unique Wealth LLC now owns 7,190 shares of the business services provider’s stock valued at $1,652,000 after purchasing an additional 306 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

Shares of WM stock opened at $226.12 on Friday. The firm’s 50 day moving average is $220.19 and its 200 day moving average is $224.89. The stock has a market capitalization of $90.80 billion, a P/E ratio of 32.72, a PEG ratio of 2.33 and a beta of 0.45. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.67 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Barclays increased their target price on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Wolfe Research initiated coverage on Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Finally, Robert W. Baird boosted their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.