MFG Wealth Management Inc. Invests $1.29 Million in Waste Management, Inc. $WM

Key Points

• MFG Wealth Management acquired 5,797 Waste Management shares in the second quarter, worth approximately $1.29 million. Institutional investors and hedge funds collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, topping estimates of $1.98, while revenue rose 4% year over year to $6.68 billion. The company maintains a quarterly dividend of $0.945, equivalent to a 1.7% annual yield.
• Analysts maintain a “Moderate Buy” consensus, with 13 Buy ratings and seven Holds, and an average price target of $258.89 versus the stock’s recent price of $227.74.

MFG Wealth Management Inc. acquired a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,797 shares of the business services provider's stock, valued at approximately $1,292,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Waste Management in the 4th quarter valued at approximately $1,022,916,000. Corient Private Wealth LLC raised its position in Waste Management by 279.0% during 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 acquiring an additional 792,037 shares in the last quarter. Diamant Asset Management Inc. lifted its stake in Waste Management by 23,051.5% in the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock valued at $17,716,000 after acquiring an additional 767,615 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Waste Management by 3,209.2% in the third 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. Finally, Vanguard Group Inc. increased its stake in shares of Waste Management by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock worth $8,566,508,000 after purchasing an additional 553,605 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of WM opened at $227.74 on Friday. The company has a market capitalization of $91.03 billion, a PE ratio of 32.26, a price-to-earnings-growth ratio of 2.81 and a beta of 0.44. 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 company's fifty day moving average price is $226.69 and its 200 day moving average price is $227.87.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $1.92 earnings per share. As a group, analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. Waste Management's dividend payout ratio (DPR) is 53.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WM shares. Barclays lifted their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Scotiabank increased their target price on shares of Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 16th. TD Cowen boosted their price target on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. UBS Group upped their price target on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Wells Fargo & Company cut their price objective on Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Thirteen 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source