Diversify Wealth Management LLC Boosts Stake in Waste Management, Inc. $WM

Diversify Wealth Management LLC boosted its holdings in Waste Management, Inc. (NYSE:WM) by 101.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,460 shares of the business services provider’s stock after acquiring an additional 15,339 shares during the quarter. Diversify Wealth Management LLC’s holdings in Waste Management were worth $7,015,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Waste Management in the fourth quarter worth approximately $1,022,916,000. Holocene Advisors LP raised its stake in Waste Management by 163.7% in the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock valued at $309,317,000 after purchasing an additional 869,453 shares in the last quarter. Corient Private Wealth LLC lifted its position in Waste Management by 279.0% during the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock valued at $236,387,000 after purchasing an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. grew its stake in Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after buying an additional 767,615 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Waste Management by 3,209.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after buying an additional 660,776 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. 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. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce upgraded Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price target on the stock in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price target on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Finally, Barclays increased their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Sixteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.20.

Waste Management Price Performance

Shares of Waste Management stock opened at $233.50 on Monday. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The stock has a market capitalization of $93.77 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.84 and a beta of 0.44. The company has a fifty day moving average of $220.79 and a 200-day moving average of $225.97. 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 (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 company had revenue of $6.23 billion for 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 firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. Equities research analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s dividend payout ratio (DPR) 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.