Janney Montgomery Scott LLC Cuts Holdings in Waste Management, Inc. $WM

Janney Montgomery Scott LLC lowered its holdings in Waste Management, Inc. (NYSE:WM) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,762 shares of the business services provider’s stock after selling 6,345 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Waste Management were worth $67,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of WM. Vanguard Group Inc. grew its holdings in shares of Waste Management by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after acquiring an additional 553,605 shares during the period. State Street Corp raised its stake in shares of Waste Management by 1.6% in the fourth quarter. State Street Corp now owns 17,390,748 shares of the business services provider’s stock worth $3,820,921,000 after buying an additional 281,456 shares during the period. Geode Capital Management LLC lifted its position in shares of Waste Management by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider’s stock valued at $1,972,371,000 after buying an additional 117,476 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Waste Management by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock valued at $1,250,613,000 after purchasing an additional 277,250 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Waste Management in the fourth quarter valued at about $1,022,916,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Waste Management stock opened at $226.12 on Monday. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm’s fifty day moving average is $220.19 and its 200 day moving average is $224.99. The company has a market cap of $90.80 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.36 and a beta of 0.45.

Waste Management (NYSE:WM) last posted its earnings results 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. The firm had revenue of $6.23 billion for 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 business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 EPS. Sell-side analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current fiscal 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 paid a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Royal Bank Of Canada raised their target price 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. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Barclays increased their price objective on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Wolfe Research began coverage on Waste Management in a report on Friday, March 13th. They issued a “peer perform” rating on the stock. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

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.