Manning & Napier Group LLC Has $23.16 Million Position in Waste Management, Inc. (WM)
Manning & Napier Group LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 57.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,921 shares of the business services provider’s stock after purchasing an additional 81,633 shares during the period. Manning & Napier Group LLC’s holdings in Waste Management were worth $23,163,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Waste Management in the 4th quarter valued at about $402,210,000. YorkBridge Wealth Partners LLC lifted its position in Waste Management by 3.3% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 7,228 shares of the business services provider’s stock valued at $643,000 after acquiring an additional 230 shares during the last quarter. Summit Financial Wealth Advisors LLC lifted its position in Waste Management by 0.9% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 34,865 shares of the business services provider’s stock valued at $3,103,000 after acquiring an additional 295 shares during the last quarter. Fiera Capital Corp lifted its position in Waste Management by 241.4% during the fourth quarter. Fiera Capital Corp now owns 9,936 shares of the business services provider’s stock valued at $884,000 after acquiring an additional 7,026 shares during the last quarter. Finally, NuWave Investment Management LLC lifted its position in Waste Management by 2,840.6% during the fourth quarter. NuWave Investment Management LLC now owns 6,440 shares of the business services provider’s stock valued at $573,000 after acquiring an additional 6,221 shares during the last quarter. Institutional investors own 75.74% of the company’s stock.
WM has been the subject of a number of analyst reports. UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and increased their target price for the company from $90.00 to $103.00 in a research report on Thursday, January 10th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Monday, December 31st. Stifel Nicolaus lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday. Oppenheimer upped their price target on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. Finally, KeyCorp started coverage on shares of Waste Management in a research note on Monday, February 4th. They set an “overweight” rating and a $96.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $101.50.
Shares of Waste Management stock opened at $102.93 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 1.53. Waste Management, Inc. has a 12-month low of $79.96 and a 12-month high of $104.80. The company has a market cap of $43.16 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.66 and a beta of 0.67.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, February 14th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.07. Waste Management had a net margin of 12.91% and a return on equity of 29.43%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business posted $0.85 EPS. Waste Management’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts forecast that Waste Management, Inc. will post 4.37 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.5125 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Waste Management’s previous quarterly dividend of $0.47. Waste Management’s dividend payout ratio is presently 48.81%.
Waste Management announced that its board has authorized a share buyback program on Thursday, December 13th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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Waste Management Company Profile
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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