Nixon Peabody Trust Co. reduced its position in Waste Management, Inc. (NYSE:WM – Free Report) by 63.0% during the first quarter, HoldingsChannel.com reports. The firm owned 17,375 shares of the business services provider’s stock after selling 29,581 shares during the period. Nixon Peabody Trust Co.’s holdings in Waste Management were worth $3,993,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of WM. Norges Bank purchased a new position in Waste Management during the 4th quarter valued at $1,022,916,000. Capital International Investors increased its stake in 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 worth $302,494,000 after purchasing an additional 939,455 shares during the period. Holocene Advisors LP lifted its position in shares of Waste Management by 163.7% during the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock worth $309,317,000 after purchasing 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 fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock valued at $236,387,000 after purchasing an additional 792,037 shares during the period. Finally, Diamant Asset Management Inc. boosted its stake in shares of Waste Management by 23,051.5% during the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock valued at $17,716,000 after purchasing an additional 767,615 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on WM. TD Cowen raised their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings downgraded shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Wells Fargo & Company reduced their target price 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 lifted 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. Finally, Wolfe Research initiated coverage on Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating for the company. Fifteen investment 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.30.
Waste Management Stock Performance
WM stock opened at $230.19 on Friday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The business has a 50-day moving average price of $220.41 and a 200 day moving average price of $225.41. The company has a market capitalization of $92.44 billion, a P/E ratio of 33.31, a PEG ratio of 2.41 and a beta of 0.44. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89.
Waste Management (NYSE:WM – Get Free Report) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (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 analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 EPS. As a group, equities research analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.
Waste Management Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio is presently 54.70%.
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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