Edge Capital Group LLC Grows Position in Waste Management, Inc. (NYSE:WM)

Edge Capital Group LLC grew its stake in Waste Management, Inc. (NYSE:WMFree Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,706 shares of the business services provider’s stock after acquiring an additional 331 shares during the quarter. Edge Capital Group LLC’s holdings in Waste Management were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sachetta LLC purchased a new stake in shares of Waste Management in the fourth quarter valued at $27,000. Gilfoyle & Co LLC purchased a new position in shares of Waste Management during the 4th quarter worth about $30,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Waste Management in the fourth quarter worth approximately $36,000. DSM Capital Partners LLC purchased a new stake in Waste Management in the fourth quarter valued at approximately $38,000. Finally, Rational Advisors LLC acquired a new position in Waste Management during the third quarter worth approximately $41,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price objective on Waste Management from $165.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. UBS Group lowered Waste Management from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $190.00 to $205.00 in a research note on Wednesday, February 14th. TD Cowen increased their price objective on shares of Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Oppenheimer lifted their target price on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Truist Financial boosted their price objective on Waste Management from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus price target of $217.61.

View Our Latest Report on WM

Waste Management Stock Performance

WM stock opened at $203.85 on Thursday. The stock’s 50 day simple moving average is $208.46 and its 200 day simple moving average is $195.76. Waste Management, Inc. has a 12-month low of $149.71 and a 12-month high of $214.54. The firm has a market cap of $81.76 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.51 and a beta of 0.74. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.23.

Waste Management (NYSE:WMGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. As a group, equities research analysts predict that Waste Management, Inc. will post 7.3 EPS for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, June 7th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Waste Management Profile

(Free Report)

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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