AMI Asset Management Corp Trims Stock Position in Waste Management, Inc. $WM

AMI Asset Management Corp lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 177,357 shares of the business services provider’s stock after selling 5,651 shares during the period. Waste Management accounts for about 2.6% of AMI Asset Management Corp’s investment portfolio, making the stock its 18th biggest holding. AMI Asset Management Corp’s holdings in Waste Management were worth $40,755,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of WM. Elevated Capital Advisors LLC bought a new stake in Waste Management during the 4th quarter valued at $25,000. RHL Group LLC bought a new position in shares of Waste Management during the 4th quarter worth $29,000. Financial Network Wealth Advisors LLC increased its stake in shares of Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management in the fourth quarter valued at about $29,000. Finally, JPL Wealth Management LLC purchased a new stake in Waste Management in the third quarter worth about $30,000. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Barclays increased their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Finally, Royal Bank Of Canada increased their target price on Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research report on Thursday, April 30th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Stock Down 0.9%

Shares of Waste Management stock opened at $223.42 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The company has a market cap of $89.72 billion, a P/E ratio of 32.33, a PEG ratio of 2.36 and a beta of 0.45. The firm’s 50 day moving average price is $220.18 and its 200-day moving average price is $225.09. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM) last posted 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. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Waste Management’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts predict that Waste Management, Inc. will post 8.15 EPS for the current fiscal 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 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 was Friday, June 5th. 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.