Sterling Capital Management LLC Sells 15,197 Shares of Waste Management, Inc. $WM

Sterling Capital Management LLC trimmed its stake in Waste Management, Inc. (NYSE:WM) by 4.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 299,601 shares of the business services provider’s stock after selling 15,197 shares during the period. Waste Management comprises 1.3% of Sterling Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Sterling Capital Management LLC owned approximately 0.07% of Waste Management worth $68,845,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in WM. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of Waste Management during the 4th quarter worth about $10,206,000. Capital Advisors Inc. OK boosted its holdings in Waste Management by 2.0% in the fourth quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider’s stock valued at $43,192,000 after purchasing an additional 3,880 shares in the last quarter. Central Bank & Trust Co. raised its holdings in Waste Management by 333.1% during the fourth quarter. Central Bank & Trust Co. now owns 8,442 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 6,493 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of 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 buying an additional 104,843 shares during the last quarter. Finally, Goodman Financial Corp acquired a new position in shares of Waste Management in the 4th quarter valued at $16,898,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on WM. Royal Bank Of Canada lifted their price target on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Robert W. Baird lifted their target price on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Wolfe Research began coverage on Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, TD Cowen raised their price target on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $255.30.

Waste Management Stock Up 1.4%

Shares of NYSE:WM opened at $226.12 on Friday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market cap of $90.80 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.33 and a beta of 0.45. The firm has a fifty day moving average price of $220.19 and a 200 day moving average price of $224.89.

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

Waste Management Announces Dividend

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

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.