Waste Management, Inc. $WM Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 269.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,927 shares of the business services provider’s stock after buying an additional 10,156 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Waste Management were worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Sprott Inc. purchased a new position in shares of Waste Management in the first quarter valued at $325,000. Sei Investments Co. raised its stake in shares of Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after buying an additional 20,122 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Waste Management by 68.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock worth $83,843,000 after buying an additional 148,590 shares during the last quarter. Finally, Glenview Trust co boosted its position in shares of Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after buying an additional 162 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WM. Wolfe Research assumed coverage on shares of Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Barclays increased their price target on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 30th. Robert W. Baird upped their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

Waste Management Price Performance

NYSE:WM opened at $230.19 on Friday. The firm has a market cap of $92.44 billion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 2.41 and a beta of 0.44. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The company’s 50-day moving average is $220.41 and its two-hundred day moving average is $225.41. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 earnings per share. Research analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

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.