Fifth Third Bancorp Has $73.65 Million Stock Position in Waste Management, Inc. $WM

Fifth Third Bancorp increased its position in shares of Waste Management, Inc. (NYSE:WM) by 35.2% during the first quarter, Holdings Channel reports. The fund owned 320,515 shares of the business services provider’s stock after acquiring an additional 83,384 shares during the quarter. Fifth Third Bancorp’s holdings in Waste Management were worth $73,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elevated Capital Advisors LLC purchased a new position in Waste Management during the 4th quarter worth approximately $25,000. RHL Group LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at $29,000. Financial Network Wealth Advisors LLC boosted its position in shares of Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in shares of Waste Management in the fourth quarter worth $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Waste Management during the third quarter valued at $30,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Wells Fargo & Company lowered their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. 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 research report on Thursday, April 16th. Finally, 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 report on Thursday, April 30th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.20.

Waste Management Price Performance

Shares of NYSE:WM opened at $233.50 on Monday. The firm has a market cap of $93.77 billion, a price-to-earnings ratio of 33.79, a P/E/G ratio of 2.84 and a beta of 0.44. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The business has a fifty day simple moving average of $220.79 and a 200 day simple moving average of $225.97.

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

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a $0.945 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management’s payout ratio is presently 54.70%.

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.