Colonial River Wealth Management LLC Buys 229 Shares of Waste Management, Inc. (NYSE:WM)

Colonial River Wealth Management LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 14.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,771 shares of the business services provider’s stock after acquiring an additional 229 shares during the quarter. Colonial River Wealth Management LLC’s holdings in Waste Management were worth $278,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. TD Capital Management LLC acquired a new stake in Waste Management in the third quarter worth $33,000. Tortoise Investment Management LLC grew its position in Waste Management by 232.1% in the third quarter. Tortoise Investment Management LLC now owns 269 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 188 shares in the last quarter. HBC Financial Services PLLC bought a new position in Waste Management in the fourth quarter valued at $47,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of Waste Management by 387.9% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 322 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 256 shares during the period. Finally, Worth Asset Management LLC bought a new stake in shares of Waste Management during the 1st quarter worth about $58,000. 78.48% of the stock is owned by institutional investors.

Waste Management Stock Performance

WM traded down $0.66 during midday trading on Friday, hitting $161.22. 241,092 shares of the company traded hands, compared to its average volume of 1,721,369. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $65.59 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 2.67 and a beta of 0.72. The company’s 50-day moving average is $163.41 and its 200 day moving average is $159.05. Waste Management, Inc. has a 52 week low of $138.89 and a 52 week high of $175.98.

Waste Management (NYSE:WM – Get Rating) last released its earnings results on Wednesday, April 26th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.02. Waste Management had a net margin of 11.33% and a return on equity of 33.23%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, research analysts expect that Waste Management, Inc. will post 6.03 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.74%. Waste Management’s dividend payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Waste Management from $157.00 to $151.00 and set a “hold” rating for the company in a research note on Monday, February 6th. 51job restated a “maintains” rating on shares of Waste Management in a research report on Thursday, April 27th. Raymond James dropped their target price on shares of Waste Management from $167.00 to $166.00 and set an “outperform” rating for the company in a research report on Monday, February 6th. Truist Financial began coverage on shares of Waste Management in a report on Monday, April 17th. They set a “buy” rating and a $190.00 price target on the stock. Finally, StockNews.com began coverage on shares of Waste Management in a report on Thursday, May 18th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $176.64.

About Waste Management

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Waste Management, Inc is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: East Tier, West Tier, and Other. The East Tier segment consists of Eastern U.S., the Great Lakes Region, and Canada. The West Tier segment includes the upper Midwest region and British Columbia, Canada.