Assenagon Asset Management S.A. Reduces Holdings in Waste Management, Inc. $WM

Assenagon Asset Management S.A. lessened its holdings in Waste Management, Inc. (NYSE:WM) by 30.8% during the 1st quarter, Holdings Channel reports. The firm owned 195,902 shares of the business services provider’s stock after selling 87,187 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Waste Management were worth $45,016,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in shares of Waste Management in the fourth quarter worth $10,206,000. Capital Advisors Inc. OK boosted its stake in shares of Waste Management by 2.0% during the fourth quarter. Capital Advisors Inc. OK now owns 196,585 shares of the business services provider’s stock valued at $43,192,000 after acquiring an additional 3,880 shares during the last quarter. Central Bank & Trust Co. increased its position in Waste Management by 333.1% during the 4th quarter. Central Bank & Trust Co. now owns 8,442 shares of the business services provider’s stock worth $1,855,000 after purchasing an additional 6,493 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Waste Management by 15.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 793,346 shares of the business services provider’s stock valued at $173,774,000 after purchasing an additional 104,843 shares during the last quarter. Finally, Goodman Financial Corp purchased a new position in Waste Management in the 4th quarter valued at about $16,898,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WM has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised 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. Robert W. Baird boosted their price target on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Barclays raised their price objective on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company dropped their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Trading Down 0.2%

Shares of WM stock opened at $222.83 on Friday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm’s 50 day moving average price is $220.17 and its two-hundred day moving average price is $224.88. The stock has a market cap of $89.48 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 2.33 and a beta of 0.45. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22.

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 for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.67 EPS. On average, analysts anticipate 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. Shareholders of record on Friday, June 5th were paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, June 5th. Waste Management’s payout ratio is currently 54.70%.

Waste Management 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.