CX Institutional Has $785,000 Position in Waste Management, Inc. $WM

Key Points

• CX Institutional cut its Waste Management stake by 56.6% in the second quarter, selling 4,587 shares and retaining 3,521 shares valued at approximately $785,000. Institutional investors and hedge funds collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, exceeding estimates of $1.98, while revenue rose 4% year over year to $6.68 billion. The company also pays a quarterly dividend of $0.945, equivalent to a 1.6% annual yield.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and seven Holds, producing a consensus “Moderate Buy” rating and an average price target of $258.89 versus the reported share price of $229.14.

CX Institutional trimmed its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 56.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,521 shares of the business services provider's stock after selling 4,587 shares during the quarter. CX Institutional's holdings in Waste Management were worth $785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in Waste Management during the fourth quarter worth $10,206,000. Principal Financial Group Inc. lifted its stake in Waste Management by 3.1% in the first quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider's stock valued at $105,776,000 after buying an additional 14,003 shares during the period. KLP Kapitalforvaltning AS boosted its holdings in shares of Waste Management by 18.5% during the 4th quarter. KLP Kapitalforvaltning AS now owns 236,153 shares of the business services provider's stock worth $51,885,000 after buying an additional 36,900 shares in the last quarter. LBP AM SA grew its stake in shares of Waste Management by 24.1% in the 4th quarter. LBP AM SA now owns 46,640 shares of the business services provider's stock valued at $10,247,000 after buying an additional 9,071 shares during the period. Finally, Directional Asset Management bought a new stake in shares of Waste Management during the fourth quarter worth about $1,361,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of Waste Management stock opened at $229.14 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The business's 50 day simple moving average is $226.36 and its two-hundred day simple moving average is $227.87. The stock has a market capitalization of $91.59 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion for 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 company's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 EPS. Analysts forecast that Waste Management, Inc. will post 8.14 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders 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 annualized dividend and a yield of 1.6%. Waste Management's dividend payout ratio (DPR) is 53.54%.

Wall Street Analysts Forecast Growth

WM has been the subject of several research reports. Royal Bank Of Canada increased their price objective on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Wells Fargo & Company reduced their price objective on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Weiss Ratings cut shares of Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 11th. TD Cowen raised their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Scotiabank boosted their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

About Waste Management

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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