Jennison Associates LLC Takes $1.16 Million Position in Waste Management, Inc. $WM

Jennison Associates LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,042 shares of the business services provider’s stock, valued at approximately $1,159,000.

Several other institutional investors also recently bought and sold shares of WM. Elevated Capital Advisors LLC purchased a new stake in Waste Management in the 4th quarter worth approximately $25,000. RHL Group LLC purchased a new position in shares of Waste Management during the 4th quarter valued at approximately $29,000. Financial Network Wealth Advisors LLC lifted its stake in shares of Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 47 shares during the period. Mcguire Capital Advisors Inc. purchased a new stake in Waste Management during the fourth quarter worth $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Waste Management during the third quarter valued at $30,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. TD Cowen raised their target price on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Scotiabank upped their price target on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Finally, Weiss Ratings lowered Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Fifteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus price target of $256.74.

Trending Headlines about Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: A Seeking Alpha piece highlighted Waste Management as a defensive name with a positive outlook, suggesting investors may still view WM as a stable anchor in uncertain markets. Waste Management: Positive Outlook As Defensive Anchor Remains
• Neutral Sentiment: Analysts said WM’s earnings are expected to grow, but also noted the stock may not have the setup for a clear earnings beat, which keeps expectations balanced ahead of the next report. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Another earnings preview from Zacks struck a similar tone, saying investors should be prepared for growth but not necessarily a strong upside surprise. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Negative Sentiment: WM fell as the broader market moved higher, indicating some near-term profit-taking or relative weakness versus the market. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know
• Negative Sentiment: A local report said Waste Management will end service in a Centre County township, which could slightly weigh on sentiment even if the business impact is limited. Waste Management to end service in a Centre County township

Waste Management Stock Performance

NYSE:WM opened at $236.69 on Thursday. 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 stock has a market capitalization of $95.05 billion, a PE ratio of 34.25, a P/E/G ratio of 2.84 and a beta of 0.44. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The company has a fifty day moving average of $223.42 and a two-hundred day moving average of $226.86.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $6.28 billion. During the same quarter last year, the business earned $1.67 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts forecast that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.945 dividend. This represents a $3.78 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s payout ratio is presently 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.