MFG Wealth Management Inc. Invests $1.29 Million in Waste Management, Inc. $WM

MFG Wealth Management Inc. acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,797 shares of the business services provider’s stock, valued at approximately $1,292,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $1,022,916,000. Corient Private Wealth LLC raised its position in Waste Management by 279.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock valued at $236,387,000 after acquiring an additional 792,037 shares in the last quarter. Diamant Asset Management Inc. lifted its stake in Waste Management by 23,051.5% in the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock valued at $17,716,000 after acquiring an additional 767,615 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Waste Management by 3,209.2% in the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after acquiring an additional 660,776 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Waste Management by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after purchasing an additional 553,605 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of WM opened at $227.74 on Friday. The company has a market capitalization of $91.03 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 2.81 and a beta of 0.44. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company’s fifty day moving average price is $226.69 and its 200 day moving average price is $227.87.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. As a group, analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders 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 1.7%. Waste Management’s dividend payout ratio (DPR) is 53.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WM shares. Barclays lifted their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Scotiabank increased their target price on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. TD Cowen boosted their price target on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. UBS Group upped their price target on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company cut 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. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.89.

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.