First Trust Advisors LP Has $71.05 Million Stock Position in Waste Management, Inc. (NYSE:WM)

First Trust Advisors LP lowered its holdings in shares of Waste Management, Inc. (NYSE:WMFree Report) by 20.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 396,701 shares of the business services provider’s stock after selling 104,712 shares during the period. First Trust Advisors LP owned about 0.10% of Waste Management worth $71,049,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Morgan Stanley raised its stake in Waste Management by 0.7% during the third quarter. Morgan Stanley now owns 6,963,527 shares of the business services provider’s stock worth $1,061,521,000 after buying an additional 46,084 shares during the last quarter. Nordea Investment Management AB raised its stake in Waste Management by 16.9% during the third quarter. Nordea Investment Management AB now owns 5,366,017 shares of the business services provider’s stock worth $827,815,000 after buying an additional 776,491 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Waste Management by 1.3% during the third quarter. Ameriprise Financial Inc. now owns 5,213,330 shares of the business services provider’s stock worth $794,174,000 after buying an additional 66,816 shares during the last quarter. Parnassus Investments LLC raised its stake in Waste Management by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock worth $859,624,000 after buying an additional 16,213 shares during the last quarter. Finally, Norges Bank bought a new position in Waste Management during the fourth quarter worth $784,486,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.7 %

Waste Management stock opened at $202.50 on Friday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a market cap of $81.22 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.37 and a beta of 0.74. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $214.54. The firm’s 50-day simple moving average is $208.25 and its 200 day simple moving average is $195.81.

Waste Management (NYSE:WMGet Free Report) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.23. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Waste Management had a net margin of 11.98% and a return on equity of 38.61%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 earnings per share. Research analysts predict that Waste Management, Inc. will post 7.31 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, June 7th. Waste Management’s payout ratio is 49.10%.

Analyst Upgrades and Downgrades

WM has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Waste Management from $214.00 to $222.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. HSBC downgraded shares of Waste Management from a “buy” rating to a “hold” rating and set a $210.00 price target for the company. in a research note on Thursday, February 15th. Raymond James lifted their price target on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lifted their price target on shares of Waste Management from $165.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Oppenheimer lifted their price target on shares of Waste Management from $221.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.61.

Get Our Latest Research Report on Waste Management

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.

See Also

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

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