USS Investment Management Ltd cut its stake in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 18.5% in the first quarter, Holdings Channel reports. The firm owned 77,762 shares of the business services provider’s stock after selling 17,616 shares during the quarter. USS Investment Management Ltd’s holdings in Waste Management were worth $17,864,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $25,000. RHL Group LLC bought a new position in Waste Management during the 4th quarter worth approximately $29,000. Financial Network Wealth Advisors LLC grew its holdings in 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 valued at $29,000 after purchasing an additional 47 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in Waste Management during the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC bought a new stake in Waste Management in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.40% of the company’s stock.
Waste Management Stock Performance
Shares of WM stock opened at $224.31 on Thursday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company’s fifty day simple moving average is $220.16 and its 200-day simple moving average is $225.28. The firm has a market cap of $90.08 billion, a PE ratio of 32.46, a P/E/G ratio of 2.33 and a beta of 0.44. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22.
Waste Management Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.945 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management’s dividend payout ratio (DPR) is presently 54.70%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on WM. Wells Fargo & Company reduced their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Robert W. Baird raised their price objective on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. TD Cowen lifted their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Finally, Barclays raised their price target on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.30.
Read Our Latest Stock Report on WM
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.
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