Sumitomo Mitsui Trust Group Inc. Has $205.70 Million Holdings in Waste Management, Inc. $WM

Sumitomo Mitsui Trust Group Inc. lowered its stake in Waste Management, Inc. (NYSE:WM) by 4.7% in the first quarter, Holdings Channel reports. The fund owned 895,169 shares of the business services provider’s stock after selling 44,229 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Waste Management were worth $205,701,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. lifted its stake in Waste Management by 2.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 158,371 shares of the business services provider’s stock valued at $36,396,000 after purchasing an additional 3,521 shares during the last quarter. First Interstate Bank acquired a new position in shares of Waste Management during the first quarter worth $325,000. Seelaus Asset Management LLC bought a new position in shares of Waste Management in the 1st quarter valued at $276,000. IAG Wealth Partners LLC boosted its holdings in shares of Waste Management by 22.9% during the 1st quarter. IAG Wealth Partners LLC now owns 520 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 97 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its position in Waste Management by 2.3% during the 1st quarter. Frank Rimerman Advisors LLC now owns 6,426 shares of the business services provider’s stock worth $1,477,000 after acquiring an additional 144 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Down 1.0%

WM opened at $231.67 on Friday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The company has a fifty day moving average of $220.72 and a 200-day moving average of $225.87. The stock has a market cap of $93.03 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 2.45 and a beta of 0.44. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating 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 business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, sell-side analysts predict that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

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 dividend of $0.945 per share. The ex-dividend date was Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.6%. Waste Management’s dividend payout ratio is presently 54.70%.

Analysts Set New Price Targets

WM has been the subject of a number of recent research reports. Royal Bank Of Canada upped their target price on Waste Management from $235.00 to $240.00 and gave the stock a “sector perform” rating in a report on Thursday, April 30th. Wells Fargo & Company cut their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Barclays increased their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 target price for the company in a research report on Tuesday. Finally, Wolfe Research began coverage on Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $255.90.

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.