Arrowstreet Capital Limited Partnership Has $93.18 Million Position in Waste Management, Inc. $WM

Arrowstreet Capital Limited Partnership cut its holdings in Waste Management, Inc. (NYSE:WM) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 424,093 shares of the business services provider’s stock after selling 49,627 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.11% of Waste Management worth $93,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Waste Management by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock valued at $8,566,508,000 after buying an additional 553,605 shares during the last quarter. State Street Corp raised its holdings in shares of Waste Management by 1.6% in the fourth quarter. State Street Corp now owns 17,390,748 shares of the business services provider’s stock valued at $3,820,921,000 after buying an additional 281,456 shares during the last quarter. Geode Capital Management LLC increased its position in Waste Management by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider’s stock worth $1,972,371,000 after purchasing an additional 117,476 shares during the period. Ameriprise Financial Inc. increased its position in Waste Management by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock worth $1,250,613,000 after purchasing an additional 277,250 shares during the period. Finally, Norges Bank acquired a new stake in Waste Management in the fourth quarter worth about $1,022,916,000. 80.40% of the stock is owned by institutional investors.

Waste Management Price Performance

Waste Management stock opened at $216.88 on Tuesday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. 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 firm has a market capitalization of $87.10 billion, a P/E ratio of 31.39, a PEG ratio of 2.29 and a beta of 0.45. The business has a 50-day moving average of $222.41 and a 200-day moving average of $224.78.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating 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 business 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 business posted $1.67 EPS. Waste Management’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued 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 is Friday, June 5th. Waste Management’s payout ratio is 54.70%.

Analysts Set New Price Targets

A number of analysts recently commented on WM shares. Barclays lifted their price objective on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company lowered their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, TD Cowen lifted their price objective 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 equities 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $255.30.

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.