Waste Management, Inc. $WM Position Boosted by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 35.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,515 shares of the business services provider’s stock after acquiring an additional 83,384 shares during the period. Fifth Third Bancorp owned approximately 0.08% of Waste Management worth $73,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Broadway Wealth Solutions Inc. lifted its holdings in Waste Management by 2.8% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock worth $349,000 after purchasing an additional 44 shares during the period. Bey Douglas LLC increased its stake in Waste Management by 3.7% during 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 period. San Luis Wealth Advisors LLC raised its position 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 worth $422,000 after buying an additional 45 shares in the last quarter. Birch Hill Investment Advisors LLC raised its position 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 worth $1,341,000 after buying an additional 45 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its stake in shares of Waste Management by 1.9% in 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 during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.1%

WM stock opened at $233.50 on Monday. The firm has a market cap of $93.77 billion, a PE ratio of 33.79, a P/E/G ratio of 2.84 and a beta of 0.44. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month 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. The firm has a 50 day simple moving average of $220.79 and a 200 day simple moving average of $225.97.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The firm had revenue of $6.23 billion for 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 firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. Equities research analysts forecast that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued 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 was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WM shares. Oppenheimer lowered their price objective on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. Barclays upped their target price on Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. TD Cowen lifted their price target on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Citigroup boosted their price objective on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company cut their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Sixteen equities 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $256.20.

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.