Waste Management, Inc. $WM Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 269.3% in the first quarter, HoldingsChannel reports. The fund owned 13,927 shares of the business services provider’s stock after buying an additional 10,156 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Waste Management were worth $3,200,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WM. Broadway Wealth Solutions Inc. increased its position in Waste Management by 2.8% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock worth $349,000 after purchasing an additional 44 shares during the last quarter. Bey Douglas LLC boosted its holdings in shares of Waste Management by 3.7% in the 4th quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 44 shares during the last quarter. San Luis Wealth Advisors LLC grew its stake in shares of Waste Management by 2.4% during the 4th quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider’s stock valued at $422,000 after buying an additional 45 shares during the period. Birch Hill Investment Advisors LLC increased its holdings in shares of Waste Management by 0.7% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock worth $1,341,000 after buying an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC increased its holdings in shares of Waste Management by 1.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock worth $527,000 after buying an additional 45 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WM has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Robert W. Baird upped 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. Wolfe Research started coverage on Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating on the stock. Wells Fargo & Company decreased their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Royal Bank Of Canada increased their target price on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” 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 company. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $255.30.

Waste Management Stock Down 0.1%

Shares of NYSE WM opened at $230.19 on Friday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a market cap of $92.44 billion, a P/E ratio of 33.31, a P/E/G ratio of 2.41 and a beta of 0.44. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The stock has a fifty day moving average price of $220.41 and a 200 day moving average price of $225.41.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts anticipate 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 given 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 1.6%. Waste Management’s payout ratio 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.