Clark Capital Management Group Inc. Raises Stock Holdings in Waste Management, Inc. $WM

Key Points

• Clark Capital Management Group boosted its Waste Management stake by 39.1% in the fourth quarter, buying an additional 100,070 shares to bring its total to 356,164 shares worth about $78.3 million.
• Wall Street remains broadly upbeat on WM, with several analysts recently raising price targets and the stock carrying a Moderate Buy consensus rating and average target of $255.30.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, and it also announced a quarterly dividend of $0.945 per share payable June 18, implying a 1.7% yield.

Clark Capital Management Group Inc. increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 39.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 356,164 shares of the business services provider's stock after purchasing an additional 100,070 shares during the quarter. Clark Capital Management Group Inc. owned 0.09% of Waste Management worth $78,253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevated Capital Advisors LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $25,000. RHL Group LLC acquired a new stake in Waste Management during the fourth quarter worth about $29,000. Financial Network Wealth Advisors LLC grew its holdings in Waste Management by 55.3% during the fourth 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 during the period. JPL Wealth Management LLC acquired a new stake in Waste Management during the third quarter worth about $30,000. Finally, Kelleher Financial Advisors acquired a new stake in Waste Management during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

WM has been the topic of several analyst reports. Robert W. Baird raised 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. TD Cowen raised their target price on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Barclays raised their target price on Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. Finally, Weiss Ratings lowered Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $255.30.

Trending Headlines about Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Commentary today reiterated that WM’s irreplaceable physical network supports predictable, inflation-protected cash flow, reinforcing the stock’s appeal as a long-term “forever” holding. Why This Once-in-a-Decade Selloff Makes One Waste Management Company a Forever Stock
• Positive Sentiment: WM also reinforced its brand and operational discipline by updating its Recycle Right® guidance to warn customers not to place batteries in recycling or trash bins, a move that highlights safety focus and could help reduce facility fire risk. WM Updates Recycle Right® Rules: No Batteries in Recycling or Trash
• Neutral Sentiment: Several items referenced capital-markets activity around Waste Management entities, including debt issuance in Canada, which may support financing flexibility but does not appear to be a major stock-moving catalyst for WM’s core U.S. operations. Waste Management eyes selling $750 million in bonds
• Negative Sentiment: WM shares have recently softened amid a broader selloff in industrials and a market session where the stock fell while the wider market rose, suggesting some near-term profit-taking or valuation pressure. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know

Waste Management Stock Up 0.8%

Shares of WM opened at $218.73 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The stock's 50 day moving average is $222.08 and its two-hundred day moving average is $224.79. The firm has a market cap of $87.84 billion, a P/E ratio of 31.65, a PEG ratio of 2.27 and a beta of 0.45.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $6.28 billion. During the same period last year, the company earned $1.67 earnings per share. Waste Management's quarterly revenue was up 3.5% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Friday, June 5th will be issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management's dividend payout ratio (DPR) is presently 54.70%.

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.

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