Wesbanco Bank Inc. Has $2.29 Million Position in Waste Management, Inc. $WM

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

A number of other hedge funds also recently made changes to their positions in WM. Broadway Wealth Solutions Inc. boosted its holdings in Waste Management by 2.8% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 44 shares during the last quarter. Bey Douglas LLC raised its holdings in Waste Management by 3.7% during the 4th quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock worth $271,000 after purchasing an additional 44 shares during the last quarter. San Luis Wealth Advisors LLC lifted its position in shares of Waste Management by 2.4% in the 4th quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider’s stock worth $422,000 after purchasing an additional 45 shares during the period. Birch Hill Investment Advisors LLC boosted its stake in shares of Waste Management by 0.7% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock valued at $1,341,000 after purchasing an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its stake in shares of Waste Management by 1.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock valued at $527,000 after purchasing an additional 45 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Shares of NYSE WM opened at $226.12 on Friday. The firm has a market capitalization of $90.80 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.36 and a beta of 0.45. The firm’s 50-day moving average price is $220.19 and its 200-day moving average price is $224.89. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13.

Waste Management (NYSE:WM) last issued its 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. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the company posted $1.67 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio is presently 54.70%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WM shares. Robert W. Baird lifted their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Royal Bank Of Canada boosted their price objective on Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Finally, TD Cowen raised their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.30.

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.