Van ECK Associates Corp Purchases 3,967 Shares of Waste Management, Inc. $WM

Van ECK Associates Corp grew its position in Waste Management, Inc. (NYSE:WM) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,805 shares of the business services provider’s stock after purchasing an additional 3,967 shares during the quarter. Van ECK Associates Corp’s holdings in Waste Management were worth $17,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Waste Management in the fourth quarter worth $1,022,916,000. Morgan Stanley Institutional Investment Advisors LLC purchased a new stake in shares of Waste Management during the second quarter valued at $322,479,000. Corient Private Wealth LLC increased its position in shares of Waste Management by 279.0% in the 4th 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 during the period. Diamant Asset Management Inc. raised its stake in Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after acquiring an additional 767,615 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in Waste Management by 3,209.2% during the 3rd 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 during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.1%

Shares of WM opened at $219.88 on Monday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The firm has a market cap of $87.89 billion, a P/E ratio of 31.14, a PEG ratio of 2.77 and a beta of 0.44. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The stock’s 50 day moving average is $228.60 and its two-hundred day moving average is $227.59.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. Analysts predict that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 11th. Waste Management’s dividend payout ratio is 53.54%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WM. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 25th. Barclays increased their price target on shares of Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Stifel Nicolaus lifted their price objective on shares of Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Citigroup increased their price objective on shares of Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Oppenheimer cut their price target on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $258.89.

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.