Stock Yards Bank & Trust Co. lifted its holdings in Waste Management, Inc. (NYSE:WM) by 659.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,580 shares of the business services provider’s stock after purchasing an additional 80,383 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Waste Management were worth $9,620,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in WM. Advisors Asset Management Inc. increased its stake in shares of Waste Management by 29.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,141 shares of the business services provider’s stock valued at $1,278,000 after purchasing an additional 3,225 shares in the last quarter. Mutual Advisors LLC purchased a new position in shares of Waste Management in the 3rd quarter valued at about $206,000. Glenmede Trust Co. NA increased its stake in shares of Waste Management by 822.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 426,909 shares of the business services provider’s stock valued at $38,575,000 after purchasing an additional 380,632 shares in the last quarter. Resources Management Corp CT ADV purchased a new position in shares of Waste Management in the 3rd quarter valued at about $224,000. Finally, Captrust Financial Advisors boosted its holdings in Waste Management by 232.8% in the 3rd quarter. Captrust Financial Advisors now owns 24,847 shares of the business services provider’s stock worth $2,245,000 after buying an additional 17,381 shares during the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.
Several equities research analysts recently issued reports on the company. UBS Group cut Waste Management from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $103.00 to $106.00 in a report on Thursday, April 4th. Stifel Nicolaus upgraded Waste Management from a “hold” rating to a “buy” rating in a report on Monday. Oppenheimer lifted their price objective on Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. KeyCorp assumed coverage on Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 price objective on the stock. Finally, Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $101.71.
WM stock opened at $105.10 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.82 and a current ratio of 0.85. Waste Management, Inc. has a 12-month low of $79.96 and a 12-month high of $105.68. The stock has a market capitalization of $44.66 billion, a P/E ratio of 25.07, a PEG ratio of 2.75 and a beta of 0.67.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Waste Management had a return on equity of 29.43% and a net margin of 12.91%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the firm posted $0.85 EPS. Waste Management’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that Waste Management, Inc. will post 4.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.5125 per share. This is a boost from Waste Management’s previous quarterly dividend of $0.47. This represents a $2.05 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, March 7th. Waste Management’s payout ratio is currently 48.81%.
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About Waste Management
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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