Waste Management, Inc. $WM Shares Acquired by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 283.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,055 shares of the business services provider’s stock after purchasing an additional 6,696 shares during the period. Hanson & Doremus Investment Management’s holdings in Waste Management were worth $2,081,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WM. Norges Bank bought a new stake in Waste Management during the fourth quarter worth approximately $1,022,916,000. Capital International Investors increased its holdings in shares of Waste Management by 218.3% in the third quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock valued at $302,494,000 after buying an additional 939,455 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Waste Management by 163.7% during the 3rd quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock valued at $309,317,000 after acquiring an additional 869,453 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Waste Management by 279.0% during the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after acquiring an additional 792,037 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Waste Management by 3,209.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after acquiring an additional 660,776 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

WM stock opened at $213.08 on Tuesday. The firm has a 50 day simple moving average of $220.60 and a 200 day simple moving average of $224.73. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The stock has a market cap of $85.57 billion, a P/E ratio of 30.84, a P/E/G ratio of 2.24 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 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 firm had revenue of $6.23 billion for 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%.The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. Research analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid 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 1.8%. Waste Management’s dividend payout ratio is 54.70%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WM shares. Wells Fargo & Company decreased their price target 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. Robert W. Baird boosted their price objective on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. TD Cowen upped their price objective on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Finally, Wolfe Research assumed coverage on shares of Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating on the stock. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

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.