Candriam S.C.A. Sells 187,186 Shares of Waste Management, Inc. $WM

Candriam S.C.A. cut its stake in Waste Management, Inc. (NYSE:WM) by 39.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 291,784 shares of the business services provider’s stock after selling 187,186 shares during the period. Candriam S.C.A. owned approximately 0.07% of Waste Management worth $67,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of WM. Broadway Wealth Solutions Inc. boosted its position in shares of Waste Management by 2.8% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock worth $349,000 after buying an additional 44 shares during the period. Bey Douglas LLC raised its position in Waste Management by 3.7% in the 4th quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock valued at $271,000 after buying an additional 44 shares during the last quarter. San Luis Wealth Advisors LLC lifted its stake in Waste Management by 2.4% in the 4th quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider’s stock valued at $422,000 after acquiring an additional 45 shares in the last quarter. Birch Hill Investment Advisors LLC boosted its position in Waste Management by 0.7% during the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock worth $1,341,000 after acquiring an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its stake in shares of Waste Management by 1.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock worth $527,000 after acquiring an additional 45 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of WM opened at $233.50 on Friday. The company has a market cap of $93.77 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.44. The firm has a 50-day moving average of $220.79 and a 200-day moving average of $225.93. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89.

Waste Management (NYSE:WM) last issued its 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 company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the firm earned $1.67 EPS. Waste Management’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts forecast that Waste Management, Inc. will post 8.14 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 given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is presently 54.70%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Robert W. Baird raised 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. Wells Fargo & Company lowered their target price on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Finally, JPMorgan Chase & Co. raised their price target on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.20.

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.