Trust Co. of Toledo NA OH trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 16.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 16,252 shares of the business services provider’s stock after selling 3,091 shares during the period. Trust Co. of Toledo NA OH’s holdings in Waste Management were worth $2,097,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of WM. ExodusPoint Capital Management LP acquired a new position in shares of Waste Management during the third quarter worth about $2,187,000. Advisory Alpha LLC acquired a new position in shares of Waste Management during the third quarter worth about $55,000. Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Waste Management during the third quarter worth about $558,000. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Waste Management during the third quarter worth about $430,000. Finally, Capital Advisory Group Advisory Services LLC increased its stake in shares of Waste Management by 50.4% during the third quarter. Capital Advisory Group Advisory Services LLC now owns 370 shares of the business services provider’s stock worth $42,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 71.42% of the company’s stock.
Several brokerages have weighed in on WM. Morgan Stanley lowered their target price on shares of Waste Management from $122.00 to $121.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 25th. Raymond James lowered their price target on shares of Waste Management from $131.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, February 25th. Robert W. Baird lowered shares of Waste Management from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $128.00 to $122.00 in a research report on Tuesday, February 16th. Finally, The Goldman Sachs Group assumed coverage on shares of Waste Management in a research note on Wednesday. They set a “buy” rating and a $145.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Waste Management has an average rating of “Hold” and a consensus target price of $119.21.
NYSE:WM traded up $0.28 during trading hours on Thursday, reaching $132.69. 11,512 shares of the company were exchanged, compared to its average volume of 2,116,734. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $56.15 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 4.70 and a beta of 0.72. Waste Management, Inc. has a 52-week low of $90.91 and a 52-week high of $133.23. The stock has a 50 day simple moving average of $120.40 and a 200 day simple moving average of $116.96.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, February 18th. The business services provider reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.06. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.98 billion. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. On average, analysts predict that Waste Management, Inc. will post 3.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 12th were paid a dividend of $0.575 per share. The ex-dividend date of this dividend was Thursday, March 11th. This represents a $2.30 dividend on an annualized basis and a yield of 1.73%. This is an increase from Waste Management’s previous quarterly dividend of $0.55. Waste Management’s dividend payout ratio (DPR) is currently 52.27%.
Waste Management announced that its board has initiated a stock repurchase program on Monday, December 14th that allows the company to repurchase $1.35 billion in shares. This repurchase authorization allows the business services provider to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers 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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