Waste Management, Inc. $WM Holdings Increased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Waste Management position by 11% in the first quarter, bringing its holdings to 93,509 shares valued at approximately $21.5 million. Institutional investors collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, beating estimates by $0.04, while revenue rose 4% year over year to $6.68 billion, slightly below analyst expectations.
• The company declared a quarterly dividend of $0.945, equivalent to an annualized $3.78 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $258.89 versus the reported share price of $227.74.

NewEdge Advisors LLC boosted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 11.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,509 shares of the business services provider's stock after purchasing an additional 9,259 shares during the period. NewEdge Advisors LLC's holdings in Waste Management were worth $21,488,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. First Nebraska Trust Co acquired a new position in Waste Management in the first quarter worth approximately $444,000. Foguth Wealth Management LLC. increased its position in shares of Waste Management by 1.9% in the first quarter. Foguth Wealth Management LLC. now owns 4,886 shares of the business services provider's stock worth $1,033,000 after acquiring an additional 93 shares in the last quarter. Financial Solutions Advisory Group Inc. acquired a new stake in Waste Management during the 1st quarter valued at $313,000. Dala Group LLC purchased a new stake in Waste Management in the 1st quarter worth about $417,000. Finally, Ipsen Advisor Group LLC lifted its position in shares of Waste Management by 3.3% in the first quarter. Ipsen Advisor Group LLC now owns 3,470 shares of the business services provider's stock worth $797,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Shares of Waste Management stock opened at $227.74 on Friday. The firm has a market cap of $91.03 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.81 and a beta of 0.44. The firm's 50-day simple moving average is $226.69 and its 200-day simple moving average is $227.87. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month 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.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (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 during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the business posted $1.92 earnings per share. The company's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts expect that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were 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 was Friday, June 5th. Waste Management's dividend payout ratio is 53.54%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays increased their price objective on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. UBS Group raised their price objective on Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday. 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. TD Cowen lifted their price target on Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus boosted their price objective on shares of Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and an average 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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