Waste Management, Inc. $WM Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 11.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,213 shares of the business services provider’s stock after selling 3,280 shares during the quarter. NewEdge Wealth LLC’s holdings in Waste Management were worth $5,564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in Waste Management in the fourth quarter valued at approximately $10,206,000. Capital Advisors Inc. OK increased its position in shares of Waste Management by 2.0% in the fourth quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider’s stock worth $43,192,000 after acquiring an additional 3,880 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Waste Management by 18.5% in the 4th quarter. KLP Kapitalforvaltning AS now owns 236,153 shares of the business services provider’s stock valued at $51,885,000 after acquiring an additional 36,900 shares during the period. LBP AM SA lifted its holdings in shares of Waste Management by 24.1% during the 4th quarter. LBP AM SA now owns 46,640 shares of the business services provider’s stock valued at $10,247,000 after acquiring an additional 9,071 shares in the last quarter. Finally, Cohen Capital Management Inc. purchased a new stake in Waste Management during the 4th quarter worth $3,252,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on WM. Barclays raised their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada upped their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Wells Fargo & Company dropped their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Scotiabank boosted their price target on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Citigroup increased their price objective on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.74.

Waste Management Stock Up 0.3%

NYSE:WM opened at $237.17 on Friday. The company has a market capitalization of $95.24 billion, a price-to-earnings ratio of 34.32, a price-to-earnings-growth ratio of 2.88 and a beta of 0.44. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The stock has a 50-day simple moving average of $223.79 and a 200 day simple moving average of $226.99. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93.

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

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio is currently 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.