Waste Management, Inc. $WM Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 11.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 24,213 shares of the business services provider’s stock after selling 3,280 shares during the period. NewEdge Wealth LLC’s holdings in Waste Management were worth $5,564,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WM. JPMorgan Chase & Co. increased their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Royal Bank Of Canada boosted their price objective on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Robert W. Baird upped their price objective 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. Wells Fargo & Company lowered their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Finally, Scotiabank boosted their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. Fifteen investment 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $256.74.

Waste Management Stock Performance

NYSE:WM opened at $237.17 on Friday. 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 fifty-two week low of $194.11 and a fifty-two week high of $248.13. The stock has a market cap of $95.24 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 2.88 and a beta of 0.44. The firm’s fifty day simple moving average is $223.79 and its 200-day simple moving average is $226.99.

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 firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.67 earnings per share. Analysts expect that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

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.