Ibex Wealth Advisors Makes New Investment in Waste Management, Inc. $WM

Ibex Wealth Advisors purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 2,169 shares of the business services provider’s stock, valued at approximately $498,000.

Other hedge funds have also recently modified their holdings of the company. Elevated Capital Advisors LLC purchased a new position in Waste Management during the fourth quarter worth about $25,000. RHL Group LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC increased its holdings in shares of Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after buying an additional 47 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of Waste Management during the 4th quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Waste Management during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WM. Oppenheimer lowered their price objective on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup lifted their target price on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. TD Cowen raised their price objective on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Robert W. Baird boosted their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Sixteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.20.

Waste Management Stock Up 0.8%

Shares of WM opened at $233.50 on Friday. The company’s 50-day simple moving average is $220.79 and its 200-day simple moving average is $225.93. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13. The stock has a market capitalization of $93.77 billion, a PE ratio of 33.79, a P/E/G ratio of 2.43 and a beta of 0.44.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share 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 firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts forecast that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

Waste Management Company 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.