Sax Wealth Advisors LLC Takes $237,000 Position in Waste Management, Inc. $WM

Sax Wealth Advisors LLC acquired a new stake in Waste Management, Inc. (NYSE:WM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,024 shares of the business services provider’s stock, valued at approximately $237,000.

Several other large investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Waste Management by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider’s stock valued at $781,000 after purchasing an additional 44 shares during the period. Ascent Group LLC raised its position in shares of Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock valued at $1,520,000 after purchasing an additional 44 shares during the period. Insight Wealth Strategies LLC raised its position in shares of Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock valued at $2,698,000 after purchasing an additional 44 shares during the period. Stonebridge Financial Group LLC raised its position in shares of Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after purchasing an additional 45 shares during the period. Finally, Formidable Asset Management LLC raised its position in shares of Waste Management by 2.0% in the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after purchasing an additional 45 shares during the period. 80.40% of the stock is owned by institutional investors.

Insider Transactions at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Waste Management Trading Down 1.2%

Shares of Waste Management stock opened at $226.9430 on Monday. The company has a market capitalization of $91.42 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 2.78 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The firm’s 50-day moving average price is $229.28 and its two-hundred day moving average price is $229.85.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s payout ratio is 48.96%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WM shares. Raymond James Financial upped their price target on shares of Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Melius started coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. UBS Group upped their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Seaport Res Ptn upgraded shares of Waste Management to a “hold” rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $254.35.

About Waste Management

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.