Hsbc Holdings PLC Purchases 67,470 Shares of Waste Management, Inc. $WM

Hsbc Holdings PLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 881,326 shares of the business services provider’s stock after buying an additional 67,470 shares during the period. Hsbc Holdings PLC owned 0.22% of Waste Management worth $193,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Waste Management by 1.4% during 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 acquiring an additional 553,605 shares during the period. State Street Corp increased its stake 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 worth $3,820,921,000 after purchasing an additional 281,456 shares during the period. Geode Capital Management LLC lifted its position in shares of Waste Management by 1.3% during the 4th 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 last quarter. Ameriprise Financial Inc. boosted its stake in Waste Management by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock valued at $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 4th quarter valued at approximately $1,022,916,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WM has been the subject of a number of research analyst reports. 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 report on Thursday, April 16th. Wolfe Research assumed coverage on shares of Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. TD Cowen increased their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Barclays boosted their price objective on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a 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 company’s stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Price Performance

Shares of NYSE: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. 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, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The business’s 50 day moving average is $221.00 and its 200-day moving average is $224.68.

Waste Management (NYSE:WM) last issued its earnings results 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. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.Waste Management’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 earnings per share. Sell-side analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The firm 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. The ex-dividend date was Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.8%. Waste Management’s dividend payout ratio is currently 54.70%.

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.