Bluedoor Private Wealth LLC Makes New Investment in Waste Management, Inc. $WM

Bluedoor Private Wealth LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,634 shares of the business services provider’s stock, valued at approximately $2,336,000. Waste Management comprises about 1.1% of Bluedoor Private Wealth LLC’s portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Norges Bank acquired a new stake in Waste Management during the fourth quarter worth $1,022,916,000. Capital International Investors increased its stake in Waste Management by 218.3% during the third quarter. Capital International Investors now owns 1,369,805 shares of the business services provider’s stock worth $302,494,000 after acquiring an additional 939,455 shares during the last quarter. Holocene Advisors LP increased its stake in Waste Management by 163.7% during the third quarter. Holocene Advisors LP now owns 1,400,701 shares of the business services provider’s stock worth $309,317,000 after acquiring an additional 869,453 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Waste Management by 2.1% in the third quarter. Vanguard Group Inc. now owns 38,436,462 shares of the business services provider’s stock valued at $8,487,924,000 after buying an additional 774,255 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Waste Management by 3,209.2% in the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock valued at $150,466,000 after buying an additional 660,776 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Weiss Ratings cut Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Wells Fargo & Company dropped their price objective on Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Wolfe Research initiated coverage on Waste Management in a research note on Friday, March 13th. They issued a “peer perform” rating for the company. Finally, Robert W. Baird lifted their price objective 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.30.

Waste Management Trading Down 1.2%

NYSE:WM opened at $216.88 on Tuesday. The firm has a market cap of $87.10 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 2.29 and a beta of 0.45. The stock has a fifty day moving average price of $222.41 and a 200 day moving average price of $224.78. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.Waste Management’s revenue was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.67 earnings per share. Sell-side analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a $0.945 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. Waste Management’s dividend payout ratio (DPR) 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.