Waste Management, Inc. $WM Shares Sold by Conning Inc.

Conning Inc. trimmed its stake in Waste Management, Inc. (NYSE:WM) by 10.6% during the first quarter, Holdings Channel.com reports. The fund owned 18,245 shares of the business services provider’s stock after selling 2,162 shares during the period. Conning Inc.’s holdings in Waste Management were worth $4,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WM. Elevated Capital Advisors LLC purchased a new position in shares of Waste Management during the fourth quarter worth $25,000. RHL Group LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC lifted its stake 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 in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in Waste Management during the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC acquired a new position in Waste Management in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of Waste Management stock opened at $233.50 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 52 week low of $194.11 and a 52 week high of $248.13. The firm’s 50 day moving average is $220.79 and its two-hundred day moving average is $225.93. The firm has a market capitalization of $93.77 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.43 and a beta of 0.44.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $6.23 billion during 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%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. Research analysts forecast that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio is currently 54.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WM. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Wells Fargo & Company dropped their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price objective on the stock in a research report on Tuesday. TD Cowen increased their price objective on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Citigroup boosted their target price on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday. Sixteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.20.

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.