BTC Capital Management Inc. Acquires 2,595 Shares of Waste Management, Inc. $WM

BTC Capital Management Inc. increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,821 shares of the business services provider’s stock after acquiring an additional 2,595 shares during the quarter. BTC Capital Management Inc.’s holdings in Waste Management were worth $6,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WM. RFG Advisory LLC increased its position in shares of Waste Management by 60.3% during the 1st quarter. RFG Advisory LLC now owns 3,867 shares of the business services provider’s stock valued at $889,000 after purchasing an additional 1,454 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Waste Management by 19.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 7,496 shares of the business services provider’s stock worth $1,723,000 after buying an additional 1,206 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in Waste Management by 5.2% during the first quarter. Brown Lisle Cummings Inc. now owns 1,427 shares of the business services provider’s stock valued at $328,000 after buying an additional 71 shares during the period. OP Asset Management Ltd purchased a new stake in Waste Management during the first quarter worth about $9,383,000. Finally, Banque Cantonale Vaudoise increased its holdings in Waste Management by 1.5% during the first quarter. Banque Cantonale Vaudoise now owns 55,865 shares of the business services provider’s stock worth $12,837,000 after buying an additional 835 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $223.52 on Thursday. The firm’s 50 day moving average is $220.26 and its 200 day moving average is $224.81. The stock has a market capitalization of $89.76 billion, a P/E ratio of 32.35, a PEG ratio of 2.29 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 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 quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to analyst estimates of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. Waste Management’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WM shares. Robert W. Baird increased their target price on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. JPMorgan Chase & Co. increased their price objective on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. TD Cowen boosted 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. Finally, Barclays upped their price target on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Fifteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $255.30.

About Waste Management

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.