Waste Management, Inc. $WM Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. increased its stake in Waste Management, Inc. (NYSE:WM) by 6.6% during the first quarter, HoldingsChannel.com reports. The fund owned 599,186 shares of the business services provider’s stock after buying an additional 37,085 shares during the period. Bessemer Group Inc.’s holdings in Waste Management were worth $137,686,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WM. Avalon Trust Co boosted its position in shares of Waste Management by 42.2% in the 1st quarter. Avalon Trust Co now owns 711 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 211 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Waste Management by 8.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 149,774 shares of the business services provider’s stock worth $34,598,000 after buying an additional 11,034 shares during the period. Independent Financial Group LLC acquired a new stake in Waste Management during the 1st quarter worth about $2,160,000. Enterprise Financial Services Corp lifted its stake in Waste Management by 30.3% during the first quarter. Enterprise Financial Services Corp now owns 1,420 shares of the business services provider’s stock valued at $326,000 after buying an additional 330 shares in the last quarter. Finally, Delta Financial Advisors LLC purchased a new position in shares of Waste Management in the first quarter worth approximately $207,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 4.0%

Shares of NYSE:WM opened at $242.22 on Friday. The firm has a fifty day moving average of $221.72 and a two-hundred day moving average of $226.41. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The firm has a market capitalization of $97.27 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 2.83 and a beta of 0.44.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 10.99% and a return on equity of 31.90%. Waste Management’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.67 earnings per share. On average, equities analysts expect that Waste Management, Inc. will post 8.16 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on WM. Royal Bank Of Canada upped their price target on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Wells Fargo & Company cut 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 note on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Robert W. Baird raised their target price on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Finally, Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price target on the stock in a research report on Tuesday, July 7th. Sixteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.70.

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.