Zevenbergen Capital Investments LLC Raises Stock Position in Waste Management, Inc. (NYSE:WM)

Key Points

• Zevenbergen Capital Investments LLC increased its stake in Waste Management, Inc. by 134.0% in the first quarter, raising its holdings to 7,230 shares valued at $1,674,000.
• Waste Management recently reported $1.92 EPS for the last quarter, surpassing analysts' expectations, with revenue of $6.43 billion, marking a 19.0% increase year-over-year.
• The company declared a quarterly dividend of $0.825 per share, resulting in an annualized yield of 1.4%, with a payout ratio of approximately 48.96%.

Zevenbergen Capital Investments LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 134.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,230 shares of the business services provider's stock after acquiring an additional 4,140 shares during the quarter. Zevenbergen Capital Investments LLC's holdings in Waste Management were worth $1,674,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Westend Capital Management LLC increased its holdings in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares during the period. Transce3nd LLC acquired a new stake in Waste Management in the fourth quarter valued at approximately $28,000. West Branch Capital LLC boosted its stake in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Adalta Capital Management LLC acquired a new stake in Waste Management in the fourth quarter valued at approximately $40,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Waste Management in the first quarter valued at approximately $45,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.8%

WM opened at $235.11 on Friday. The stock has a market capitalization of $94.71 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.88 and a beta of 0.64. The company has a fifty day moving average of $230.87 and a two-hundred day moving average of $228.96. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. On average, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.825 per share. The ex-dividend date was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.4%. Waste Management's payout ratio is presently 48.96%.

Analysts Set New Price Targets

Several brokerages have weighed in on WM. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a research note on Monday, June 9th. Melius began coverage on shares of Waste Management in a research note on Monday, June 9th. They set a "buy" rating for the company. Raymond James Financial lifted their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Hsbc Global Res upgraded shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Citigroup lifted their price objective on shares of Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Insider Transactions at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.

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