VIRGINIA RETIREMENT SYSTEMS ET Al Invests $15.36 Million in Waste Management, Inc. $WM

Key Points

• Virginia Retirement Systems purchased 68,921 Waste Management shares worth approximately $15.36 million in the second quarter. Institutional investors and hedge funds collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, exceeding analysts’ $1.98 estimate, while revenue rose 4% year over year to $6.68 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.945 per share, equivalent to a $3.78 annualized payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $258.89.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 68,921 shares of the business services provider's stock, valued at approximately $15,361,000.

A number of other institutional investors have also added to or reduced their stakes in WM. Financial Network Wealth Advisors LLC grew its stake in Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after acquiring an additional 47 shares during the period. RHL Group LLC acquired a new position in shares of Waste Management during the fourth quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new position in shares of Waste Management in the 4th quarter worth $29,000. JPL Wealth Management LLC acquired a new stake in Waste Management in the 3rd quarter valued at $30,000. Finally, Main Street Group LTD bought a new stake in Waste Management during the 1st quarter valued at $31,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Down 0.0%

Waste Management stock opened at $218.90 on Tuesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The firm's 50-day simple moving average is $228.39 and its 200 day simple moving average is $227.01. The stock has a market cap of $87.50 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.76 and a beta of 0.42.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter last year, the firm earned $1.92 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Waste Management, Inc. will post 8.13 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.945 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management's payout ratio is currently 53.54%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Scotiabank upped their price objective on shares of Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. Citigroup boosted their target price on shares of Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Oppenheimer lowered their target price on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a report on Wednesday, July 8th. Barclays raised their price target on shares of Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price objective on Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

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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