Mattern Capital Management LLC Boosts Holdings in Waste Management, Inc. $WM

Mattern Capital Management LLC grew its position in shares of Waste Management, Inc. (NYSE:WM) by 780.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,361 shares of the business services provider’s stock after purchasing an additional 37,547 shares during the period. Mattern Capital Management LLC’s holdings in Waste Management were worth $9,734,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WM. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Waste Management by 32.8% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,451 shares of the business services provider’s stock worth $1,253,000 after buying an additional 1,347 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Waste Management by 5.2% in the 1st quarter. Bleakley Financial Group LLC now owns 13,569 shares of the business services provider’s stock valued at $3,118,000 after acquiring an additional 670 shares in the last quarter. Archer Investment Corp boosted its position in shares of Waste Management by 40.0% during the 1st quarter. Archer Investment Corp now owns 1,400 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 400 shares during the last quarter. HBW Advisory Services LLC grew its holdings in shares of Waste Management by 37.3% during the first quarter. HBW Advisory Services LLC now owns 5,213 shares of the business services provider’s stock worth $1,198,000 after purchasing an additional 1,415 shares in the last quarter. Finally, NWF Advisory Services Inc. bought a new position in shares of Waste Management in the first quarter worth approximately $202,000. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WM shares. Wells Fargo & Company lowered their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Citigroup raised their price objective on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen lifted their price objective on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Barclays increased their target price on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.20.

Waste Management Stock Up 1.4%

Shares of NYSE WM opened at $236.67 on Tuesday. Waste Management, Inc. has a one year low of $194.11 and a one year 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’s 50 day simple moving average is $220.86 and its two-hundred day simple moving average is $226.09. The stock has a market capitalization of $95.04 billion, a P/E ratio of 34.25, a PEG ratio of 2.84 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, topping 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 analyst estimates of $6.28 billion. During the same period in the previous year, the business posted $1.67 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) is presently 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.