Fideuram Intesa Sanpaolo Private Banking S.P.A. Raises Position in Waste Management, Inc. $WM

Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 33.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,034 shares of the business services provider’s stock after buying an additional 11,109 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Waste Management were worth $10,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 worth $8,566,508,000 after acquiring an additional 553,605 shares during the last quarter. State Street Corp increased its position in shares of Waste Management by 1.6% during the 4th 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 last quarter. Geode Capital Management LLC lifted its position in Waste Management by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider’s stock valued at $1,972,371,000 after buying an additional 117,476 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Waste Management by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock valued at $1,250,613,000 after acquiring an additional 277,250 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $1,022,916,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of a number of research analyst reports. TD Cowen boosted their target price on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating 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. Wells Fargo & Company dropped their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Finally, Wolfe Research assumed coverage on shares of Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $255.30.

Waste Management Price Performance

Waste Management stock opened at $230.19 on Friday. The firm has a fifty day moving average of $220.29 and a 200-day moving average of $225.38. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. 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 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 (NYSE:WM) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, topping 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 firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the company earned $1.67 EPS. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, analysts predict that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

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