DB Fitzpatrick & Co Inc Makes New $1.18 Million Investment in Waste Management, Inc. $WM

DB Fitzpatrick & Co Inc acquired a new stake in Waste Management, Inc. (NYSE:WM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,139 shares of the business services provider’s stock, valued at approximately $1,181,000.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. purchased a new stake in shares of Waste Management during the first quarter worth approximately $325,000. Sei Investments Co. lifted its holdings in shares of Waste Management by 8.0% during the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after purchasing an additional 20,122 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Waste Management by 68.2% during the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock worth $83,843,000 after purchasing an additional 148,590 shares during the period. Finally, Glenview Trust co grew its position in Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock valued at $764,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Weiss Ratings lowered shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. TD Cowen increased 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 price objective on shares of Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Finally, Robert W. Baird lifted their price objective on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $255.30.

Waste Management Price Performance

Shares of NYSE WM opened at $230.19 on Friday. The firm has a market capitalization of $92.44 billion, a P/E ratio of 33.31, a PEG ratio of 2.34 and a beta of 0.44. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company’s fifty day moving average is $220.29 and its two-hundred day moving average is $225.38. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (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 business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the firm posted $1.67 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were given a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is presently 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.