NEOS Investment Management LLC boosted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,627 shares of the business services provider's stock after purchasing an additional 7,601 shares during the period. NEOS Investment Management LLC's holdings in Waste Management were worth $13,513,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after acquiring an additional 2,320 shares during the period. Sprott Inc. bought a new position in Waste Management during the 1st quarter worth $325,000. Sei Investments Co. lifted its holdings in Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider's stock worth $62,339,000 after buying an additional 20,122 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Waste Management by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider's stock valued at $83,843,000 after buying an additional 148,590 shares during the last quarter. Finally, Glenview Trust co increased its stake in shares of Waste Management by 5.1% in the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider's stock valued at $764,000 after buying an additional 162 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently commented on WM. Scotiabank lifted their price objective on Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. Oppenheimer dropped their price target on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Royal Bank Of Canada upped their price objective on shares of Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Citigroup lifted their price objective on Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, UBS Group lifted their target price on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a report on Tuesday, August 4th. Thirteen 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $258.89.
Read Our Latest Research Report on Waste Management
Waste Management Stock Performance
Shares of WM stock opened at $218.90 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The firm has a fifty day simple moving average of $228.48 and a two-hundred day simple moving average of $227.17. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The firm has a market capitalization of $87.50 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.80 and a beta of 0.42.
Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The firm had revenue of $6.68 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same period last year, the company earned $1.92 earnings per share. The business's revenue was up 4.0% on a year-over-year basis. Analysts forecast that Waste Management, Inc. will post 8.13 EPS for the current fiscal year.
Waste Management Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 11th. Waste Management's dividend payout ratio (DPR) is currently 53.54%.
About Waste Management
(
Free Report)
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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