Cvfg LLC Acquires New Holdings in Waste Management, Inc. $WM

Cvfg LLC bought a new stake in Waste Management, Inc. (NYSE:WM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 23,168 shares of the business services provider’s stock, valued at approximately $5,324,000.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC raised its holdings 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 valued at $1,384,000 after buying an additional 2,320 shares in the last quarter. Sprott Inc. acquired a new position in shares of Waste Management during the 1st quarter valued at about $325,000. Sei Investments Co. raised its stake in shares of Waste Management by 8.0% in the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 148,590 shares during the last quarter. Finally, Glenview Trust co boosted its position in Waste Management by 5.1% during the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WM. Wells Fargo & Company dropped 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. Wolfe Research began coverage on shares of Waste Management in a report on Friday, March 13th. They set a “peer perform” rating for the company. Weiss Ratings downgraded shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce raised shares of Waste Management from a “neutral” rating to an “outperformer” rating and set a $244.00 target price for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Sixteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.95.

Waste Management Stock Up 3.6%

WM opened at $237.25 on Wednesday. The business has a 50 day moving average of $220.49 and a 200-day moving average of $225.66. The stock has a market capitalization of $95.27 billion, a price-to-earnings ratio of 34.33, a P/E/G ratio of 2.39 and a beta of 0.44. 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, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, April 28th. The business services provider reported $1.81 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 firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the prior year, the company earned $1.67 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, 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. Stockholders of record on Friday, June 5th were given a dividend of $0.945 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management’s dividend payout ratio is currently 54.70%.

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.