Tempo Wealth LLC Acquires New Position in Waste Management, Inc. $WM

Tempo Wealth LLC bought a new position in Waste Management, Inc. (NYSE:WM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,405 shares of the business services provider’s stock, valued at approximately $528,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WM. Elevated Capital Advisors LLC purchased a new position in shares of Waste Management in the 4th quarter worth $25,000. Financial Network Wealth Advisors LLC lifted its holdings in Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 47 shares during the period. RHL Group LLC bought a new stake in shares of Waste Management during the 4th quarter valued at about $29,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Waste Management during the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Waste Management in the 3rd quarter worth approximately $30,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of recent research reports. Wolfe Research began coverage on shares of Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating for the company. Barclays increased their price objective on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Robert W. Baird upped their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Finally, TD Cowen raised their price target on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Stock Down 0.7%

Shares of WM stock opened at $214.40 on Friday. The company’s fifty day simple moving average is $221.35 and its two-hundred day simple moving average is $224.75. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The stock has a market cap of $86.10 billion, a P/E ratio of 31.03, a PEG ratio of 2.26 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last issued 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. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.945 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. Waste Management’s dividend payout ratio (DPR) is 54.70%.

Waste Management Company Profile

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.