Hsbc Holdings PLC Purchases 79,669 Shares of Waste Management, Inc. $WM

Hsbc Holdings PLC boosted its holdings in Waste Management, Inc. (NYSE:WM) by 9.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 945,993 shares of the business services provider’s stock after buying an additional 79,669 shares during the period. Hsbc Holdings PLC’s holdings in Waste Management were worth $210,885,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WM. Bey Douglas LLC grew its stake in Waste Management by 3.7% during the fourth quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock valued at $271,000 after acquiring an additional 44 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in Waste Management by 10.2% during the first quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock worth $111,000 after acquiring an additional 45 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Waste Management by 0.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 6,348 shares of the business services provider’s stock valued at $1,395,000 after purchasing an additional 46 shares during the last quarter. Cornerstone Advisory LLC raised its stake in shares of Waste Management by 1.6% in the first quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider’s stock valued at $683,000 after acquiring an additional 46 shares during the period. Finally, Coordinated Financial Services Inc. raised its position in Waste Management by 3.5% in the 4th quarter. Coordinated Financial Services Inc. now owns 1,386 shares of the business services provider’s stock worth $305,000 after purchasing an additional 47 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on WM. Royal Bank Of Canada increased their target price on Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Scotiabank lifted their price objective on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. Canadian Imperial Bank of Commerce downgraded Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Barclays increased their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Stock Down 0.0%

Shares of WM stock opened at $218.90 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The stock has a market cap of $87.50 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.76 and a beta of 0.42. The stock has a 50 day moving average of $228.48 and a 200 day moving average of $227.12. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. The firm had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 earnings per share. As a group, sell-side analysts expect that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be paid 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, September 11th. Waste Management’s dividend payout ratio is presently 53.54%.

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.