Rise Advisors LLC Decreases Position in Waste Management, Inc. $WM

Rise Advisors LLC lessened its holdings in Waste Management, Inc. (NYSE:WM) by 7.3% during the second quarter, Holdings Channel.com reports. The firm owned 1,567 shares of the business services provider’s stock after selling 124 shares during the quarter. Rise Advisors LLC’s holdings in Waste Management were worth $358,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WM. Brighton Jones LLC raised its position in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Waste Management by 14.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider’s stock valued at $25,193,000 after acquiring an additional 15,974 shares during the period. Gotham Asset Management LLC increased its position in shares of Waste Management by 72.6% in the fourth quarter. Gotham Asset Management LLC now owns 4,481 shares of the business services provider’s stock valued at $904,000 after acquiring an additional 1,885 shares during the period. Rafferty Asset Management LLC increased its position in shares of Waste Management by 11.4% in the fourth quarter. Rafferty Asset Management LLC now owns 34,115 shares of the business services provider’s stock valued at $6,884,000 after acquiring an additional 3,493 shares during the period. Finally, Toronto Dominion Bank increased its position in shares of Waste Management by 8.0% in the fourth quarter. Toronto Dominion Bank now owns 200,294 shares of the business services provider’s stock valued at $40,417,000 after acquiring an additional 14,840 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 1.0%

NYSE:WM opened at $218.22 on Monday. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The company’s 50-day simple moving average is $227.06 and its 200 day simple moving average is $229.30. The firm has a market capitalization of $87.91 billion, a P/E ratio of 32.38, a PEG ratio of 2.68 and a beta of 0.64.

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

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management’s payout ratio is presently 48.96%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WM. William Blair restated an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Scotiabank boosted their price target on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. CIBC boosted their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Finally, Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $254.35.

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.