Blossom Wealth Management Acquires 62 Shares of Waste Management, Inc. (NYSE:WM)

Blossom Wealth Management boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,427 shares of the business services provider’s stock after acquiring an additional 62 shares during the quarter. Blossom Wealth Management’s holdings in Waste Management were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WM. Segment Wealth Management LLC boosted its stake in Waste Management by 1.0% in the third quarter. Segment Wealth Management LLC now owns 5,584 shares of the business services provider’s stock valued at $1,159,000 after acquiring an additional 56 shares in the last quarter. Private Advisor Group LLC grew its stake in Waste Management by 3.0% during the 3rd quarter. Private Advisor Group LLC now owns 75,982 shares of the business services provider’s stock worth $15,774,000 after buying an additional 2,180 shares during the last quarter. Tempus Wealth Planning LLC increased its position in Waste Management by 19.0% during the 3rd quarter. Tempus Wealth Planning LLC now owns 5,908 shares of the business services provider’s stock valued at $1,227,000 after buying an additional 944 shares in the last quarter. RBA Wealth Management LLC raised its stake in Waste Management by 0.7% in the third quarter. RBA Wealth Management LLC now owns 31,847 shares of the business services provider’s stock valued at $6,611,000 after buying an additional 209 shares during the last quarter. Finally, WT Wealth Management boosted its stake in Waste Management by 4.8% in the 3rd quarter. WT Wealth Management now owns 10,835 shares of the business services provider’s stock worth $2,305,000 after purchasing an additional 495 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. CIBC lowered their price objective on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. StockNews.com lowered shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird lowered their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. William Blair initiated coverage on shares of Waste Management in a report on Thursday, October 3rd. They issued an “outperform” rating for the company. Finally, BMO Capital Markets reduced their price target on Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.89.

Waste Management Price Performance

Waste Management stock opened at $211.09 on Wednesday. The company has a 50-day moving average price of $208.59 and a 200 day moving average price of $208.52. Waste Management, Inc. has a 12-month low of $153.95 and a 12-month high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The stock has a market cap of $84.71 billion, a P/E ratio of 33.56, a PEG ratio of 2.38 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 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 analyst estimates of $5.43 billion. During the same quarter in the prior year, the company posted $1.51 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.75 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.00 annualized dividend and a yield of 1.42%. Waste Management’s dividend payout ratio (DPR) is presently 47.69%.

Waste Management Company 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.