Beese Fulmer Investment Management Inc. trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 13.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,635 shares of the business services provider’s stock after selling 249 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Waste Management were worth $348,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in Waste Management by 8.5% during the third quarter. Integrated Wealth Concepts LLC now owns 28,912 shares of the business services provider’s stock worth $4,407,000 after buying an additional 2,272 shares during the last quarter. Birch Hill Investment Advisors LLC boosted its holdings in Waste Management by 5.5% during the fourth quarter. Birch Hill Investment Advisors LLC now owns 6,321 shares of the business services provider’s stock valued at $1,132,000 after acquiring an additional 332 shares during the period. International Assets Investment Management LLC boosted its holdings in Waste Management by 13,927.7% during the fourth quarter. International Assets Investment Management LLC now owns 504,296 shares of the business services provider’s stock valued at $90,319,000 after acquiring an additional 500,701 shares during the period. Pacer Advisors Inc. boosted its holdings in Waste Management by 93.0% during the fourth quarter. Pacer Advisors Inc. now owns 46,613 shares of the business services provider’s stock valued at $8,348,000 after acquiring an additional 22,455 shares during the period. Finally, DSM Capital Partners LLC bought a new stake in Waste Management during the fourth quarter valued at about $38,000. 80.40% of the stock is owned by institutional investors and hedge funds.
Waste Management Stock Performance
NYSE WM opened at $207.89 on Thursday. The firm has a market cap of $83.38 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 2.42 and a beta of 0.74. The company has a 50 day moving average of $207.24 and a 200-day moving average of $198.00. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $214.54.
Waste Management (NYSE:WM – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.31 earnings per share. On average, equities analysts forecast that Waste Management, Inc. will post 7.31 earnings per share for the current fiscal year.
Waste Management Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, June 7th. Waste Management’s payout ratio is 49.10%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. CIBC upped their price target on shares of Waste Management from $207.00 to $220.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Truist Financial increased their target price on shares of Waste Management from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Royal Bank of Canada increased their target price on shares of Waste Management from $211.00 to $215.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. StockNews.com upgraded shares of Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 9th. Finally, Oppenheimer increased their target price on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $217.61.
Read Our Latest Stock Analysis on WM
Insider Transactions at Waste Management
In related news, VP Michael J. Watson sold 4,208 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.
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