Eventide Asset Management LLC Reduces Stake in Waste Management, Inc. $WM

Eventide Asset Management LLC decreased its stake in shares of Waste Management, Inc. (NYSE:WM) by 53.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,767 shares of the business services provider’s stock after selling 7,706 shares during the period. Eventide Asset Management LLC’s holdings in Waste Management were worth $1,503,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WM. Elevated Capital Advisors LLC purchased a new stake in Waste Management during the 4th quarter worth about $25,000. RHL Group LLC bought a new position in Waste Management in the 4th quarter worth about $29,000. JPL Wealth Management LLC bought a new position in Waste Management in the 3rd quarter worth about $30,000. Kelleher Financial Advisors bought a new position in Waste Management in the 4th quarter worth about $31,000. Finally, Godfrey Financial Associates Inc. bought a new position in Waste Management in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of Waste Management stock opened at $219.12 on Monday. 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 firm has a market capitalization of $87.99 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.45. The business’s 50-day moving average price is $222.77 and its 200-day moving average price is $224.77. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month 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 firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.67 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.945 per share. The ex-dividend date is Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management’s dividend payout ratio is 54.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Cowen upped their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their target price on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Royal Bank Of Canada upped their target price 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. Barclays upped their target price on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Company 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.