Arrowstreet Capital Limited Partnership Sells 49,627 Shares of Waste Management, Inc. $WM

Arrowstreet Capital Limited Partnership decreased its position in Waste Management, Inc. (NYSE:WM) by 10.5% during the 4th quarter, HoldingsChannel reports. The fund owned 424,093 shares of the business services provider’s stock after selling 49,627 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Waste Management were worth $93,177,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Elevated Capital Advisors LLC bought a new stake in Waste Management in the 4th quarter valued at approximately $25,000. RHL Group LLC bought a new stake in shares of Waste Management during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC bought a new stake in shares of Waste Management during the 3rd quarter worth approximately $30,000. Kelleher Financial Advisors bought a new stake in shares of Waste Management during the 4th quarter worth approximately $31,000. Finally, Godfrey Financial Associates Inc. bought a new stake in shares of Waste Management during the 4th quarter worth approximately $34,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $216.88 on Tuesday. The firm has a market cap of $87.10 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 2.29 and a beta of 0.45. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. 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 business’s fifty day moving average is $222.41 and its 200-day moving average is $224.78.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.Waste Management’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 EPS. Sell-side analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. Waste Management’s dividend payout ratio is 54.70%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WM shares. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Royal Bank Of Canada boosted their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. TD Cowen upped their price objective on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Barclays upped their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company decreased their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $255.30.

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.