Stance Capital LLC Purchases Shares of 6,583 Waste Management, Inc. $WM

Stance Capital LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,583 shares of the business services provider’s stock, valued at approximately $1,446,000.

Several other institutional investors have also recently modified their holdings of WM. Norges Bank purchased a new stake in Waste Management during the 4th quarter worth about $1,022,916,000. Capital International Investors raised its stake in Waste Management by 218.3% in the 3rd quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock valued at $302,494,000 after purchasing an additional 939,455 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Waste Management by 163.7% during the 3rd quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock worth $309,317,000 after purchasing an additional 869,453 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Waste Management by 279.0% during the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after purchasing an additional 792,037 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Waste Management by 3,209.2% during the third 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 in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wolfe Research began coverage on shares of Waste Management in a research note on Friday, March 13th. They set a “peer perform” rating on the stock. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Wells Fargo & Company reduced their price target on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. TD Cowen raised their price objective on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Robert W. Baird upped their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $255.30.

Waste Management Stock Performance

Shares of WM stock opened at $214.40 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market capitalization of $86.10 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.45. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a 50 day moving average price of $221.00 and a 200 day moving average price of $224.68.

Waste Management (NYSE:WM) last announced its quarterly earnings results 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. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. Waste Management’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $1.67 EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

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

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.