NorthCrest Asset Manangement LLC Grows Position in Waste Management, Inc. (NYSE:WM)

Posted by Defense World Staff on Jul 10th, 2023

NorthCrest Asset Manangement LLC grew its holdings in Waste Management, Inc. (NYSE:WM – Free Report) by 195.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,891 shares of the business services provider’s stock after purchasing an additional 8,521 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Waste Management were worth $2,103,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WM. Steward Financial Group LLC purchased a new stake in shares of Waste Management during the fourth quarter worth $31,000. State of Wyoming purchased a new stake in Waste Management during the 4th quarter worth about $34,000. Carmel Capital Partners LLC bought a new position in Waste Management in the 1st quarter worth about $38,000. Ruedi Wealth Management Inc. bought a new stake in shares of Waste Management during the fourth quarter valued at about $39,000. Finally, AXS Investments LLC purchased a new stake in shares of Waste Management in the fourth quarter worth about $42,000. 78.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WM has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Waste Management from $179.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 6th. Citigroup boosted their target price on Waste Management from $180.00 to $186.00 in a research report on Sunday, April 30th. Stifel Nicolaus raised Waste Management from a “hold” rating to a “buy” rating and raised their price target for the company from $171.00 to $177.00 in a report on Friday, April 28th. Truist Financial began coverage on Waste Management in a report on Monday, April 17th. They set a “buy” rating and a $190.00 price objective for the company. Finally, 51job reiterated a “maintains” rating on shares of Waste Management in a research report on Thursday, April 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $176.64.

Waste Management Price Performance

WM stock opened at $170.01 on Monday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.83 and a current ratio of 0.87. Waste Management, Inc. has a 52 week low of $148.31 and a 52 week high of $175.98. The firm’s fifty day moving average is $166.10 and its 200 day moving average is $159.61. The firm has a market cap of $69.16 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.79 and a beta of 0.73.

Waste Management (NYSE:WM – Free Report) last released its earnings results on Wednesday, April 26th. The business services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.29 by $0.02. Waste Management had a net margin of 11.33% and a return on equity of 33.23%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the firm earned $1.29 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts predict that Waste Management, Inc. will post 6.03 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Thursday, June 1st. Waste Management’s dividend payout ratio is currently 51.28%.

Waste Management Company Profile

(Free Report)

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.