WT Wealth Management Takes Position in Waste Management, Inc. $WM

WT Wealth Management acquired a new position in Waste Management, Inc. (NYSE:WM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,948 shares of the business services provider’s stock, valued at approximately $1,597,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Elevated Capital Advisors LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at about $25,000. Financial Network Wealth Advisors LLC grew its holdings in shares of Waste Management by 55.3% during the fourth 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 in the last quarter. RHL Group LLC bought a new position in shares of Waste Management in the fourth quarter worth approximately $29,000. Mcguire Capital Advisors Inc. purchased a new stake in Waste Management in the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC bought a new stake in Waste Management during the third quarter valued at approximately $30,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 1.4%

Shares of WM stock opened at $226.12 on Friday. The stock has a market capitalization of $90.80 billion, a PE ratio of 32.72, a P/E/G ratio of 2.33 and a beta of 0.45. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The business has a 50-day moving average of $220.19 and a 200 day moving average of $224.89.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed 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. 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 dividend payout ratio is 54.70%.

Wall Street Analyst Weigh In

WM has been the topic of a number of research analyst reports. 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 report on Thursday, April 16th. JPMorgan Chase & Co. increased their target price on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Royal Bank Of Canada lifted their price target on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. Wolfe Research started coverage on Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Wells Fargo & Company decreased their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average price target of $255.30.

About Waste Management

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.