Bank of New York Mellon Corp Decreases Holdings in Waste Management, Inc. $WM

Bank of New York Mellon Corp reduced its position in Waste Management, Inc. (NYSE:WM) by 2.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,102,907 shares of the business services provider’s stock after selling 46,072 shares during the period. Bank of New York Mellon Corp’s holdings in Waste Management were worth $483,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Journey Advisory Group LLC lifted its stake in shares of Waste Management by 0.7% in the 1st quarter. Journey Advisory Group LLC now owns 36,723 shares of the business services provider’s stock worth $8,439,000 after purchasing an additional 261 shares during the period. Geneos Wealth Management Inc. increased its holdings in Waste Management by 15.2% during the first quarter. Geneos Wealth Management Inc. now owns 5,450 shares of the business services provider’s stock valued at $1,252,000 after buying an additional 721 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Waste Management during the first quarter valued at approximately $103,000. MASTERINVEST Kapitalanlage GmbH raised its position in Waste Management by 22.9% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 28,311 shares of the business services provider’s stock worth $6,506,000 after acquiring an additional 5,280 shares during the period. Finally, Hudson Canyon Capital Management boosted its stake in shares of Waste Management by 2.0% during the 1st quarter. Hudson Canyon Capital Management now owns 8,907 shares of the business services provider’s stock worth $2,047,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WM. Royal Bank Of Canada upped their price objective on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price target for the company in a report on Tuesday, July 7th. Oppenheimer reduced their price target on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company decreased their price objective 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. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $256.70.

Waste Management Trading Up 4.0%

Shares of WM stock opened at $242.22 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a fifty day simple moving average of $221.72 and a two-hundred day simple moving average of $226.41. The firm has a market capitalization of $97.27 billion, a PE ratio of 35.05, a PEG ratio of 2.83 and a beta of 0.44. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 earnings per share. On average, analysts predict that Waste Management, Inc. will post 8.16 EPS for the current fiscal year.

Waste Management Dividend Announcement

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