Sumitomo Mitsui Trust Group Inc. Sells 44,229 Shares of Waste Management, Inc. $WM

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 895,169 shares of the business services provider’s stock after selling 44,229 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Waste Management worth $205,701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WM. Elevated Capital Advisors LLC bought a new stake in shares of Waste Management during the fourth quarter worth approximately $25,000. RHL Group LLC bought a new position in shares of Waste Management during the fourth quarter worth approximately $29,000. Financial Network Wealth Advisors LLC lifted its holdings in Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after purchasing an additional 47 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in Waste Management in the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC bought a new stake in Waste Management in the 3rd quarter valued at $30,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

WM opened at $231.67 on Friday. 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, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The firm has a market cap of $93.03 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44. The business’s fifty day moving average is $220.72 and its 200-day moving average is $225.87.

Waste Management (NYSE:WM) last posted its quarterly 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. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.Waste Management’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 earnings per share. Sell-side analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.945 per share. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is currently 54.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on WM shares. TD Cowen increased their price objective on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Robert W. Baird upped their price target on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Oppenheimer lowered their price target on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 target price on the stock in a research report on Tuesday. Sixteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $255.90.

Waste Management 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.