Corient Private Wealth LLC Buys 792,037 Shares of Waste Management, Inc. $WM

Corient Private Wealth LLC raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 279.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,075,906 shares of the business services provider’s stock after purchasing an additional 792,037 shares during the period. Corient Private Wealth LLC owned 0.27% of Waste Management worth $236,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Elevated Capital Advisors LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at about $25,000. Financial Network Wealth Advisors LLC lifted its position in shares of Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after purchasing an additional 47 shares during the last quarter. RHL Group LLC bought a new stake in Waste Management during the 4th quarter valued at approximately $29,000. JPL Wealth Management LLC acquired a new stake in Waste Management in the 3rd quarter valued at approximately $30,000. Finally, Kelleher Financial Advisors bought a new position in Waste Management in the 4th quarter worth approximately $31,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Down 0.7%

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

Waste Management (NYSE:WM) last issued its earnings results 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 net margin of 10.99% and a return on equity of 31.90%. The business had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the business earned $1.67 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio is currently 54.70%.

Wall Street Analyst Weigh In

WM has been the subject of several research reports. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. boosted their target price on shares of Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Royal Bank Of Canada upped their target price on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Finally, Barclays upped their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $255.30.

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.