Vertrix Wealth Management LLC Purchases Shares of 17,806 Waste Management, Inc. $WM

Key Points

• Vertrix Wealth Management LLC initiated a new position in Waste Management during the first quarter, buying 17,806 shares valued at about $4.09 million. The stake represents roughly 1.5% of the firm’s portfolio.
• Waste Management reported better-than-expected earnings for the latest quarter, posting $1.81 EPS versus consensus estimates of $1.75. Revenue came in at $6.23 billion, slightly below expectations but still up 3.5% year over year.
• The company recently paid a quarterly dividend of $0.945 per share, equal to an annualized yield of 1.7%. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price of $255.30.

Vertrix Wealth Management LLC bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,806 shares of the business services provider's stock, valued at approximately $4,092,000. Waste Management accounts for about 1.5% of Vertrix Wealth Management LLC's portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Whelan Financial boosted its position in Waste Management by 3.4% during the 1st quarter. Whelan Financial now owns 1,985 shares of the business services provider's stock worth $456,000 after purchasing an additional 66 shares during the period. IFM Investors Pty Ltd raised its position in Waste Management by 3.4% in the first quarter. IFM Investors Pty Ltd now owns 75,475 shares of the business services provider's stock valued at $17,343,000 after purchasing an additional 2,472 shares during the period. Rexford Capital Inc. raised its holdings in shares of Waste Management by 3.4% during the 1st quarter. Rexford Capital Inc. now owns 5,127 shares of the business services provider's stock valued at $1,178,000 after buying an additional 168 shares during the period. Severin Investments LLC raised its holdings in shares of Waste Management by 3.8% during the 1st quarter. Severin Investments LLC now owns 2,086 shares of the business services provider's stock valued at $479,000 after buying an additional 77 shares during the period. Finally, Key Financial Inc lifted its position in Waste Management by 35.0% during the 1st quarter. Key Financial Inc now owns 513 shares of the business services provider's stock worth $118,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Waste Management stock opened at $224.31 on Thursday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The stock has a market cap of $90.08 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 2.33 and a beta of 0.44. The stock has a 50 day moving average of $220.16 and a 200-day moving average of $225.28.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business's revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 earnings per share. On average, analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on WM. 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 report on Thursday, April 30th. Wells Fargo & Company decreased their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Barclays lifted their price target on shares of Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. Finally, Wolfe Research assumed coverage on Waste Management in a research note on Friday, March 13th. They set a "peer perform" rating for the company. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $255.30.

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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