Wesbanco Bank Inc. Sells 2,394 Shares of Waste Management, Inc. $WM

Wesbanco Bank Inc. cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 19.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,988 shares of the business services provider’s stock after selling 2,394 shares during the quarter. Wesbanco Bank Inc.’s holdings in Waste Management were worth $2,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in Waste Management in the fourth quarter valued at approximately $10,206,000. Capital Advisors Inc. OK boosted its holdings in shares of Waste Management by 2.0% in the 4th quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider’s stock valued at $43,192,000 after purchasing an additional 3,880 shares in the last quarter. Central Bank & Trust Co. increased its stake in shares of Waste Management by 333.1% in the 4th quarter. Central Bank & Trust Co. now owns 8,442 shares of the business services provider’s stock valued at $1,855,000 after purchasing an additional 6,493 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Waste Management by 15.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 793,346 shares of the business services provider’s stock valued at $173,774,000 after purchasing an additional 104,843 shares during the last quarter. Finally, Goodman Financial Corp acquired a new position in shares of Waste Management during the 4th quarter worth $16,898,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WM. Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Barclays increased their target price on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wells Fargo & Company reduced their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. TD Cowen lifted their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Wolfe Research began coverage on shares of Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.30.

Waste Management Price Performance

Shares of WM opened at $226.12 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock has a market cap of $90.80 billion, a PE ratio of 32.72, a PEG ratio of 2.36 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 business has a 50-day simple moving average of $220.19 and a two-hundred day simple moving average of $224.89.

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

Waste Management Announces Dividend

The firm 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%.

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.