Waste Management, Inc. $WM Shares Sold by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 37.5% during the first quarter, Holdings Channel reports. The fund owned 4,796 shares of the business services provider’s stock after selling 2,875 shares during the quarter. Waste Management accounts for 0.9% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Blodgett Wealth Advisors LLC’s holdings in Waste Management were worth $1,102,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Broadway Wealth Solutions Inc. grew its stake in Waste Management by 2.8% during the 4th quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 44 shares in the last quarter. Bey Douglas LLC raised its position in shares of 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 purchasing an additional 44 shares in the last quarter. San Luis Wealth Advisors LLC boosted its stake in shares of Waste Management by 2.4% during 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 buying an additional 45 shares during the last quarter. Birch Hill Investment Advisors LLC boosted its stake in shares of 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 valued at $1,341,000 after buying an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its position in shares of Waste Management by 1.9% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock worth $527,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WM. Citigroup upped their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer decreased their price objective on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday. TD Cowen upped their target price on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company reduced their price target 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. Finally, Wolfe Research initiated coverage on Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Sixteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $256.20.

Waste Management Stock Performance

Shares of WM opened at $233.50 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The firm’s 50 day moving average is $220.79 and its 200-day moving average is $225.93. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The stock has a market capitalization of $93.77 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.43 and a beta of 0.44.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.67 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed 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 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.