Wealthfront Advisers LLC Buys 19,869 Shares of Waste Management, Inc. $WM

Key Points

• Wealthfront Advisers LLC boosted its stake in Waste Management by 31.6% in the first quarter, adding 19,869 shares and bringing its total holdings to 82,755 shares valued at about $19.0 million.
• Waste Management reported better-than-expected earnings of $1.81 per share for the latest quarter, though revenue of $6.23 billion came in slightly below estimates. Revenue still rose 3.5% year over year.
• The company continues to benefit from bullish Wall Street sentiment, with 16 analysts rating it a Buy and an average price target of $256.70. Waste Management also paid a quarterly dividend of $0.945, or $3.78 annually, for a yield of 1.6%.

Wealthfront Advisers LLC increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 31.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,755 shares of the business services provider's stock after acquiring an additional 19,869 shares during the quarter. Wealthfront Advisers LLC's holdings in Waste Management were worth $19,016,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in Waste Management in the fourth quarter valued at approximately $10,206,000. Capital Advisors Inc. OK raised its holdings in shares of Waste Management by 2.0% during the fourth quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider's stock worth $43,192,000 after acquiring an additional 3,880 shares during the period. Central Bank & Trust Co. lifted its position in Waste Management by 333.1% in the 4th quarter. Central Bank & Trust Co. now owns 8,442 shares of the business services provider's stock valued at $1,855,000 after acquiring an additional 6,493 shares in the last quarter. Goodman Financial Corp acquired a new position in Waste Management in the 4th quarter worth $16,898,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Waste Management by 15.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 793,346 shares of the business services provider's stock worth $173,774,000 after purchasing an additional 104,843 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of NYSE WM opened at $242.22 on Friday. 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 50 day moving average price of $221.72 and a 200 day moving average price of $226.41. The stock has a market capitalization of $97.27 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.83 and a beta of 0.44. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data 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. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company had revenue of $6.23 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter in the prior year, the business posted $1.67 EPS. The business's revenue was up 3.5% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 8.16 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management's dividend payout ratio (DPR) is 54.70%.

Analyst Upgrades and Downgrades

WM has been the topic of a number of research reports. Royal Bank Of Canada boosted their price target on Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce raised Waste Management from a "hold" rating to an "outperformer" rating and set a $244.00 target price on the stock in a research report on Tuesday, July 7th. Weiss Ratings downgraded Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. raised their price target on shares of Waste Management from $265.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Finally, Robert W. Baird lifted their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Sixteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $256.70.

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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