Hsbc Holdings PLC Buys 67,470 Shares of Waste Management, Inc. $WM

Hsbc Holdings PLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 881,326 shares of the business services provider’s stock after purchasing an additional 67,470 shares during the quarter. Hsbc Holdings PLC’s holdings in Waste Management were worth $193,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Brighton Jones LLC grew its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new stake in shares of Waste Management during the first quarter worth approximately $325,000. Sei Investments Co. raised its stake in shares of Waste Management by 8.0% in the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after acquiring an additional 20,122 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Waste Management by 68.2% in 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 acquiring an additional 148,590 shares in the last quarter. Finally, Glenview Trust co grew its position in Waste Management by 5.1% during the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after acquiring an additional 162 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of WM stock opened at $214.40 on Friday. The firm has a market cap of $86.10 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.24 and a beta of 0.45. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The stock 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 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 company had revenue of $6.23 billion for the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. Research analysts expect that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Announces Dividend

The firm 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 1.8%. The ex-dividend date was Friday, June 5th. Waste Management’s dividend payout ratio is currently 54.70%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wolfe Research began coverage on Waste Management in a research report on Friday, March 13th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. increased their target price on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. 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 note on Thursday, April 30th. Wells Fargo & Company reduced their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Barclays increased their price objective on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

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.