MFG Wealth Management Inc. Invests $1.29 Million in Waste Management, Inc. $WM

MFG Wealth Management Inc. acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, Holdings Channel.com reports. The firm acquired 5,797 shares of the business services provider’s stock, valued at approximately $1,292,000.

Other institutional investors have also added to or reduced their stakes in the company. Castle Rock Wealth Management LLC increased its stake in Waste Management by 5.0% during the second quarter. Castle Rock Wealth Management LLC now owns 10,117 shares of the business services provider’s stock valued at $2,267,000 after acquiring an additional 478 shares during the period. Czech National Bank lifted its position in shares of Waste Management by 4.1% in the 2nd quarter. Czech National Bank now owns 105,160 shares of the business services provider’s stock worth $23,438,000 after acquiring an additional 4,101 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of Waste Management by 7.1% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 74,698 shares of the business services provider’s stock worth $16,649,000 after purchasing an additional 4,975 shares in the last quarter. Westmount Partners LLC grew its holdings in shares of Waste Management by 7.1% during the 2nd quarter. Westmount Partners LLC now owns 1,574 shares of the business services provider’s stock worth $351,000 after purchasing an additional 105 shares in the last quarter. Finally, 55 North Private Wealth LLC bought a new stake in shares of Waste Management during the second quarter valued at approximately $218,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group raised their target price on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on shares of Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citigroup raised their price objective on shares of Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Barclays lifted their target price on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Robert W. Baird increased their price target on shares of Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Stock Down 0.6%

Shares of NYSE WM opened at $227.74 on Friday. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The business has a fifty day moving average of $226.69 and a two-hundred day moving average of $227.87. The stock has a market cap of $91.03 billion, a PE ratio of 32.26, a PEG ratio of 2.81 and a beta of 0.44.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a dividend of $0.945 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management’s dividend payout ratio (DPR) is presently 53.54%.

About Waste Management

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.