OMERS ADMINISTRATION Corp Raises Stock Position in Waste Management, Inc. $WM

Key Points

• OMERS Administration Corp increased its Waste Management stake by 29.6% in the first quarter, bringing its holdings to 18,677 shares valued at approximately $4.3 million. Institutional investors and hedge funds collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $1.81, beating estimates by $0.06, while revenue rose 3.5% year over year to $6.23 billion but fell short of forecasts.
• The company maintains a quarterly dividend of $0.945, equivalent to a 1.6% yield. Analysts give WM a consensus “Moderate Buy” rating with an average price target of $256.74, above its reported $238.09 share price.

OMERS ADMINISTRATION Corp boosted its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 29.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,677 shares of the business services provider's stock after purchasing an additional 4,264 shares during the period. OMERS ADMINISTRATION Corp's holdings in Waste Management were worth $4,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Waste Management by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock worth $8,566,508,000 after buying an additional 553,605 shares during the last quarter. State Street Corp grew its holdings in Waste Management by 1.6% during the fourth quarter. State Street Corp now owns 17,390,748 shares of the business services provider's stock worth $3,820,921,000 after acquiring an additional 281,456 shares during the period. Geode Capital Management LLC raised its position in Waste Management by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider's stock valued at $1,972,371,000 after acquiring an additional 117,476 shares in the last quarter. Norges Bank acquired a new position in Waste Management in the fourth quarter valued at approximately $1,022,916,000. Finally, Northern Trust Corp boosted its position in Waste Management by 0.3% in the 3rd quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider's stock worth $873,276,000 after purchasing an additional 11,688 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Down 0.3%

WM stock opened at $238.09 on Tuesday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm has a 50-day simple moving average of $224.48 and a 200-day simple moving average of $227.26. The stock has a market capitalization of $95.61 billion, a P/E ratio of 34.46, a P/E/G ratio of 2.90 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm 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 posted $1.67 EPS. Waste Management's quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Waste Management, Inc. will post 8.16 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid 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 dividend yield of 1.6%. Waste Management's payout ratio is currently 54.70%.

Wall Street Analysts Forecast Growth

WM has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Weiss Ratings downgraded shares of Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. JPMorgan Chase & Co. raised their price target on shares of Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. Robert W. Baird upped their price objective on shares of Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Finally, TD Cowen increased their target price on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Fifteen equities 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, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.74.

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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