Mattern Capital Management LLC Buys 37,547 Shares of Waste Management, Inc. $WM

Key Points

• Mattern Capital Management LLC significantly increased its stake in Waste Management by 780% in the first quarter, buying 37,547 additional shares and bringing its total holdings to 42,361 shares worth about $9.7 million.
• Institutional interest in WM remains strong, with several hedge funds and asset managers also adding to positions; institutions and hedge funds now own 80.4% of the company.
• Wall Street analysts remain broadly positive on Waste Management, with an average rating of Moderate Buy and an average price target of $256.20, while the company recently beat earnings expectations with $1.81 EPS and also paid a quarterly dividend of $0.945 per share.

Mattern Capital Management LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 780.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,361 shares of the business services provider's stock after buying an additional 37,547 shares during the quarter. Mattern Capital Management LLC's holdings in Waste Management were worth $9,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Waste Management during the 4th quarter valued at approximately $1,022,916,000. Holocene Advisors LP increased its position in shares of Waste Management by 163.7% during the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider's stock worth $309,317,000 after buying an additional 869,453 shares during the period. Corient Private Wealth LLC lifted its holdings in Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock valued at $236,387,000 after buying an additional 792,037 shares during the period. Diamant Asset Management Inc. grew its holdings in Waste Management by 23,051.5% during the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock worth $17,716,000 after acquiring an additional 767,615 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of Waste Management by 3,209.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock worth $150,466,000 after acquiring an additional 660,776 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WM shares. JPMorgan Chase & Co. lifted 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. Canadian Imperial Bank of Commerce raised shares of Waste Management from a "hold" rating to an "outperformer" rating and set a $244.00 target price for the company in a research report on Tuesday, July 7th. Wells Fargo & Company lowered their price target on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. TD Cowen increased their price objective on shares of Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Finally, 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 research note on Thursday, April 16th. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $256.20.

Waste Management Stock Up 1.4%

Waste Management stock opened at $236.67 on Tuesday. The firm has a 50 day simple moving average of $220.86 and a 200 day simple moving average of $226.09. 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 1-year low of $194.11 and a 1-year high of $248.13. The firm has a market capitalization of $95.04 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 2.84 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The business's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 earnings per share. On average, analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid 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 currently 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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