Waste Management, Inc. $WM Shares Sold by Ameliora Wealth Management Ltd.

Key Points

• Ameliora Wealth Management cut its Waste Management stake by 93.2% in the second quarter, selling 14,753 shares and retaining 1,077 shares valued at $240,000. Institutional investors and hedge funds collectively own 80.4% of WM.
• Waste Management reported quarterly earnings of $2.02 per share, beating estimates of $1.98, while revenue rose 4% year over year to $6.68 billion. The company declared a quarterly dividend of $0.945 per share, equivalent to a 1.7% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $258.89, despite some recent upgrades and downgrades. WM shares opened at $218.90, below their 50-day and 200-day moving averages.

Ameliora Wealth Management Ltd. lowered its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 93.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,077 shares of the business services provider's stock after selling 14,753 shares during the quarter. Ameliora Wealth Management Ltd.'s holdings in Waste Management were worth $240,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. lifted its holdings in shares of Waste Management by 2.5% during the second quarter. Guardian Wealth Management Inc. now owns 15,627 shares of the business services provider's stock worth $3,483,000 after purchasing an additional 380 shares during the period. HB Wealth Management LLC raised its position in Waste Management by 0.8% during the 2nd quarter. HB Wealth Management LLC now owns 45,758 shares of the business services provider's stock worth $10,199,000 after buying an additional 344 shares during the last quarter. Nilsine Partners LLC lifted its stake in Waste Management by 2.9% during the 2nd quarter. Nilsine Partners LLC now owns 2,468 shares of the business services provider's stock valued at $550,000 after acquiring an additional 69 shares during the period. Saudi Central Bank lifted its stake in Waste Management by 89.7% during the 2nd quarter. Saudi Central Bank now owns 28,204 shares of the business services provider's stock valued at $6,286,000 after acquiring an additional 13,334 shares during the period. Finally, Advisory Solutions Group LLC purchased a new stake in shares of Waste Management in the 2nd quarter valued at $421,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Down 1.3%

WM stock opened at $218.90 on Friday. Waste Management, Inc. has a one year low of $194.11 and a one year 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 fifty day moving average is $228.48 and its 200 day moving average is $227.17. The firm has a market cap of $87.50 billion, a PE ratio of 31.01, a P/E/G ratio of 2.76 and a beta of 0.42.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on WM. Weiss Ratings cut shares of Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Oppenheimer lowered their price target 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 increased their price target on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Citigroup boosted their price objective on Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Canadian Imperial Bank of Commerce downgraded Waste Management from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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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