Park National Corp OH Cuts Holdings in Waste Management, Inc. $WM

Park National Corp OH reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 1.6% during the 1st quarter, HoldingsChannel reports. The fund owned 175,267 shares of the business services provider’s stock after selling 2,854 shares during the period. Waste Management accounts for 1.2% of Park National Corp OH’s portfolio, making the stock its 19th biggest position. Park National Corp OH’s holdings in Waste Management were worth $40,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in Waste Management in the 4th quarter worth $1,022,916,000. Capital International Investors lifted its holdings in Waste Management by 218.3% during the third quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock valued at $302,494,000 after purchasing an additional 939,455 shares in the last quarter. Holocene Advisors LP grew its position in shares of Waste Management by 163.7% in the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock valued at $309,317,000 after purchasing an additional 869,453 shares during the period. Corient Private Wealth LLC increased its stake in shares of Waste Management by 279.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after purchasing an additional 792,037 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in shares of Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after purchasing an additional 660,776 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WM shares. Wolfe Research initiated coverage on shares of Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Barclays increased their target price on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Robert W. Baird lifted their price target on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Finally, TD Cowen boosted their price target on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Stock Performance

WM opened at $214.40 on Friday. The firm has a market capitalization of $86.10 billion, a PE ratio of 31.03, a PEG ratio of 2.24 and a beta of 0.45. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The firm’s 50-day moving average price is $221.00 and its 200 day moving average price is $224.68. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last released 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 during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. Waste Management’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

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