Janney Montgomery Scott LLC Sells 6,345 Shares of Waste Management, Inc. $WM

Janney Montgomery Scott LLC trimmed its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,762 shares of the business services provider’s stock after selling 6,345 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of Waste Management worth $67,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevated Capital Advisors LLC purchased a new stake in shares of Waste Management during the fourth quarter worth about $25,000. RHL Group LLC bought a new position in Waste Management during the 4th quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC lifted its holdings in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management in the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Waste Management in the 3rd quarter worth approximately $30,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of WM opened at $226.12 on Monday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm’s 50-day simple moving average is $220.19 and its two-hundred day simple moving average is $224.99. The stock has a market cap of $90.80 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.36 and a beta of 0.45. 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 issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping 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 firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm posted $1.67 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Wolfe Research began coverage on shares of Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating for the company. 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 note on Thursday, April 16th. Barclays lifted 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. Finally, Wells Fargo & Company decreased their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.