Waste Management, Inc. $WM Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,490 shares of the business services provider’s stock after selling 6,197 shares during the period. Waste Management accounts for 2.4% of Kimelman & Baird LLC’s investment portfolio, making the stock its 16th largest position. Kimelman & Baird LLC’s holdings in Waste Management were worth $44,685,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. RHL Group LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at about $29,000. Financial Network Wealth Advisors LLC boosted 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 valued at $29,000 after purchasing an additional 47 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $29,000. JPL Wealth Management LLC acquired a new stake in shares of Waste Management during the 3rd quarter worth approximately $30,000. Finally, Main Street Group LTD acquired a new stake in shares of Waste Management during the 1st quarter worth approximately $31,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of WM opened at $219.88 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The company has a market cap of $87.89 billion, a P/E ratio of 31.14, a PEG ratio of 2.75 and a beta of 0.44. The firm’s 50 day moving average price is $228.60 and its 200 day moving average price is $227.62.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. Waste Management’s payout ratio is presently 53.54%.

Analysts Set New Price Targets

WM has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Citigroup lifted their target price on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Scotiabank increased their price target on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Finally, Oppenheimer reduced their price objective on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.89.

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.