IFM Investors Pty Ltd Acquires 2,472 Shares of Waste Management, Inc. $WM

IFM Investors Pty Ltd raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,475 shares of the business services provider’s stock after purchasing an additional 2,472 shares during the quarter. IFM Investors Pty Ltd’s holdings in Waste Management were worth $17,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Elevated Capital Advisors LLC acquired a new stake in shares of Waste Management during the 4th quarter worth about $25,000. RHL Group LLC bought a new position in Waste Management in the 4th quarter valued at about $29,000. Financial Network Wealth Advisors LLC lifted its position in Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after acquiring an additional 47 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Waste Management in the third quarter valued at approximately $30,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Up 0.6%

Shares of Waste Management stock opened at $224.31 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a market capitalization of $90.08 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.33 and a beta of 0.44. The firm’s 50-day moving average price is $220.16 and its two-hundred day moving average price is $225.28.

Waste Management (NYSE:WM) last issued 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 company had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. On average, analysts forecast that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a dividend of $0.945 per share. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management’s dividend payout ratio is presently 54.70%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays boosted their price target on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Wolfe Research initiated coverage on shares of Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating on the stock. 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 report on Thursday, April 30th. Finally, Robert W. Baird raised their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management has an average rating of “Moderate Buy” and an average target price of $255.30.

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.