RWC Asset Management LLP Cuts Position in Waste Management, Inc. $WM

RWC Asset Management LLP lessened its holdings in Waste Management, Inc. (NYSE:WM) by 32.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,840 shares of the business services provider’s stock after selling 13,145 shares during the period. RWC Asset Management LLP’s holdings in Waste Management were worth $6,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management during the 4th quarter worth approximately $25,000. RHL Group LLC acquired a new position in shares of Waste Management during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new position in shares of Waste Management during the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors acquired a new position in shares of Waste Management during the 4th quarter worth approximately $31,000. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Waste Management during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM opened at $220.45 on Monday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market capitalization of $88.53 billion, a PE ratio of 31.90, a PEG ratio of 2.30 and a beta of 0.45. The stock has a 50-day simple moving average of $223.62 and a 200-day simple moving average of $224.58.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period last year, the firm earned $1.67 earnings per share. Waste Management’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict 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 will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management’s payout ratio is 54.70%.

Analyst Ratings Changes

WM has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a research report on Wednesday, May 27th. Barclays boosted their price target on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. TD Cowen upped their price objective on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Royal Bank Of Canada upped their price objective on Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company decreased their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $255.67.

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.