NEOS Investment Management LLC Grows Holdings in Waste Management, Inc. $WM

NEOS Investment Management LLC raised its position in Waste Management, Inc. (NYSE:WM) by 14.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 60,627 shares of the business services provider’s stock after purchasing an additional 7,601 shares during the period. NEOS Investment Management LLC’s holdings in Waste Management were worth $13,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Sprott Inc. bought a new position in Waste Management in the 1st quarter valued at $325,000. Sei Investments Co. increased its position in shares of Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after purchasing an additional 20,122 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Waste Management by 68.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock worth $83,843,000 after purchasing an additional 148,590 shares during the period. Finally, Glenview Trust co boosted its holdings in shares of Waste Management by 5.1% in the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Barclays raised their price target on shares of Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Citigroup upped their price objective on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Scotiabank increased their price objective on Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Thirteen 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.89.

Waste Management Stock Down 1.3%

Waste Management stock opened at $218.90 on Friday. The firm has a 50 day simple moving average of $228.48 and a 200 day simple moving average of $227.17. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The firm has a market capitalization of $87.50 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 2.80 and a beta of 0.42.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.92 earnings per share. On average, analysts predict that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.945 dividend. The ex-dividend date is Friday, September 11th. This represents a $3.78 annualized dividend and a yield of 1.7%. Waste Management’s dividend payout ratio (DPR) is currently 53.54%.

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.