TCV Trust & Wealth Management Inc. Lowers Holdings in Waste Management, Inc. (NYSE:WM)

TCV Trust & Wealth Management Inc. lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 69,547 shares of the business services provider’s stock after selling 1,267 shares during the period. Waste Management comprises about 1.3% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 29th largest holding. TCV Trust & Wealth Management Inc.’s holdings in Waste Management were worth $14,438,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. ARS Wealth Advisors Group LLC grew its holdings in Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 47 shares during the period. McClarren Financial Advisors Inc. increased its holdings in Waste Management by 29.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after acquiring an additional 49 shares in the last quarter. Cypress Asset Management Inc. TX raised its position in Waste Management by 1.2% during the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock worth $907,000 after acquiring an additional 50 shares during the period. GYL Financial Synergies LLC lifted its holdings in Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 50 shares in the last quarter. Finally, Aries Wealth Management grew its position in shares of Waste Management by 0.6% in the second quarter. Aries Wealth Management now owns 8,780 shares of the business services provider’s stock valued at $1,873,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Oppenheimer lowered their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Scotiabank initiated coverage on Waste Management in a research note on Friday, October 4th. They issued a “sector perform” rating and a $220.00 price objective for the company. CIBC dropped their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, BMO Capital Markets decreased their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.89.

Waste Management Stock Performance

NYSE WM opened at $206.80 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The company has a market cap of $82.94 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.34 and a beta of 0.74. The stock has a 50-day moving average of $208.77 and a two-hundred day moving average of $208.56. Waste Management, Inc. has a 1-year low of $160.90 and a 1-year high of $225.00.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm earned $1.51 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s payout ratio is presently 49.10%.

Waste Management Profile

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.