Resources Management Corp CT ADV Buys 27,669 Shares of Waste Management, Inc. $WM

Key Points

• Resources Management Corp CT ADV boosted its stake in Waste Management by 437% in Q4, adding 27,669 shares to bring its total holdings to 34,000 shares worth about $7.47 million.
• Several other institutional investors also increased exposure to WM, and institutional ownership stands at 80.4%, indicating strong interest from large shareholders.
• Waste Management reported Q1 earnings of $1.81 per share, topping estimates, and it also announced a quarterly dividend of $0.945 per share payable June 18, for an annualized yield of about 1.7%.

Resources Management Corp CT ADV grew its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 437.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,000 shares of the business services provider's stock after buying an additional 27,669 shares during the quarter. Waste Management makes up 1.0% of Resources Management Corp CT ADV's holdings, making the stock its 27th biggest holding. Resources Management Corp CT ADV's holdings in Waste Management were worth $7,470,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of WM. Norges Bank bought a new stake in shares of Waste Management in the fourth quarter worth $1,022,916,000. Capital International Investors lifted its holdings in Waste Management by 218.3% in the third quarter. Capital International Investors now owns 1,369,805 shares of the business services provider's stock valued at $302,494,000 after buying an additional 939,455 shares during the period. Holocene Advisors LP raised its holdings 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 valued at $309,317,000 after purchasing an additional 869,453 shares during the period. Vanguard Group Inc. raised its holdings in shares of Waste Management by 2.1% during the third quarter. Vanguard Group Inc. now owns 38,436,462 shares of the business services provider's stock valued at $8,487,924,000 after purchasing an additional 774,255 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock valued at $150,466,000 after purchasing an additional 660,776 shares during the period. Institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WM shares. TD Cowen boosted their target price on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on shares of Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Royal Bank Of Canada increased their target price on shares of Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. Robert W. Baird increased their target price on shares of Waste Management from $248.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, April 16th. Finally, Weiss Ratings downgraded shares of Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and an average target price of $255.30.

Waste Management Stock Performance

Waste Management stock opened at $219.12 on Monday. The firm's fifty day moving average price is $222.77 and its 200-day moving average price is $224.77. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The stock has a market cap of $87.99 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.29 and a beta of 0.45. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13.

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

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, June 5th. Waste Management's dividend payout ratio (DPR) is presently 54.70%.

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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