Park National Corp OH Decreases Stake in Waste Management, Inc. $WM

Park National Corp OH cut its stake in Waste Management, Inc. (NYSE:WM) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,267 shares of the business services provider’s stock after selling 2,854 shares during the period. Waste Management accounts for about 1.2% of Park National Corp OH’s portfolio, making the stock its 19th largest position. Park National Corp OH’s holdings in Waste Management were worth $40,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of WM. Brighton Jones LLC lifted its stake in shares of 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 buying an additional 2,320 shares during the period. Sprott Inc. purchased a new stake in shares of Waste Management during the first quarter valued at $325,000. Sei Investments Co. increased its position in shares of Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after acquiring an additional 20,122 shares during the period. The Manufacturers Life Insurance Company raised its stake in Waste Management by 68.2% in 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 acquiring an additional 148,590 shares during the last quarter. Finally, Glenview Trust co lifted its position in Waste Management by 5.1% during the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after acquiring an additional 162 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE WM opened at $214.40 on Friday. The firm has a market capitalization of $86.10 billion, a P/E ratio of 31.03, a PEG ratio of 2.24 and a beta of 0.45. The stock has a 50-day simple moving average of $221.00 and a two-hundred day simple moving average of $224.68. 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 fifty-two week low of $194.11 and a fifty-two week high of $248.13.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio is currently 54.70%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WM. Wolfe Research assumed coverage on Waste Management in a research note on Friday, March 13th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. raised their price objective on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. TD Cowen lifted their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Barclays increased their price target on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Royal Bank Of Canada lifted their price objective on shares of Waste Management from $235.00 to $240.00 and gave the company a “sector perform” rating in a research note on Thursday, April 30th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.30.

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.