Waste Management, Inc. $WM Stock Holdings Cut by Welch & Forbes LLC

Welch & Forbes LLC cut its position in shares of Waste Management, Inc. (NYSE:WM) by 39.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,979 shares of the business services provider’s stock after selling 3,300 shares during the quarter. Welch & Forbes LLC’s holdings in Waste Management were worth $1,144,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of WM. Elevated Capital Advisors LLC bought a new stake in Waste Management in the fourth quarter worth about $25,000. RHL Group LLC bought a new position in shares of Waste Management during the 4th quarter valued at about $29,000. Financial Network Wealth Advisors LLC grew its stake in shares of Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after purchasing an additional 47 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management in the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Waste Management in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on WM shares. Citigroup raised their target price on shares of Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Robert W. Baird lifted their target price on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Finally, Wells Fargo & Company cut their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Sixteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.20.

Waste Management Trading Up 0.1%

NYSE WM opened at $233.50 on Monday. The firm’s 50 day moving average price is $220.79 and its two-hundred day moving average price is $225.97. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The stock has a market cap of $93.77 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.84 and a beta of 0.44.

Waste Management (NYSE:WM) last issued its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS 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 analysts’ expectations of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.Waste Management’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 earnings per share. Equities analysts anticipate that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

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

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.