SHP Wealth Management Makes New Investment in Waste Management, Inc. $WM

SHP Wealth Management purchased a new position in Waste Management, Inc. (NYSE:WM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,264 shares of the business services provider’s stock, valued at approximately $1,157,000.

Several other hedge funds also recently made changes to their positions in WM. Brighton Jones LLC lifted its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Sprott Inc. purchased a new position in Waste Management during the 1st quarter valued at about $325,000. Sei Investments Co. increased its position in shares of Waste Management by 8.0% during the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after buying an additional 20,122 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Waste Management by 68.2% in the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock worth $83,843,000 after buying an additional 148,590 shares in the last quarter. Finally, Glenview Trust co lifted its holdings in shares of Waste Management by 5.1% in the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after buying an additional 162 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Down 0.1%

Shares of WM opened at $214.40 on Friday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a market capitalization of $86.10 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.24 and a beta of 0.45. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The firm’s 50 day simple moving average is $221.00 and its 200 day simple moving average is $224.68.

Waste Management (NYSE:WM) last released its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business 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 quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.945 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.8%. Waste Management’s payout ratio is 54.70%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wolfe Research assumed coverage on shares of Waste Management in a research note on Friday, March 13th. They set a “peer perform” rating for the company. TD Cowen increased their target price on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Barclays raised their price target on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Finally, Robert W. Baird increased their price objective on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.30.

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.