IMS Capital Management Buys Shares of 3,421 Waste Management, Inc. $WM

IMS Capital Management acquired a new stake in Waste Management, Inc. (NYSE:WM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,421 shares of the business services provider’s stock, valued at approximately $783,000.

A number of other large investors have also modified their holdings of WM. Westend Capital Management LLC lifted its stake in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the period. West Branch Capital LLC raised its holdings in shares of Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after acquiring an additional 49 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of Waste Management during the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management in the first quarter valued at $38,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management in the first quarter worth approximately $45,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WM has been the topic of several research analyst reports. Citigroup reduced their price objective on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Melius assumed coverage on shares of Waste Management in a research report on Monday, June 9th. They issued a “buy” rating for the company. Melius Research raised shares of Waste Management to a “strong-buy” rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Barclays initiated coverage on shares of Waste Management in a research report on Friday, September 19th. They set an “overweight” rating and a $272.00 price target for the company. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.17.

Waste Management Trading Up 0.5%

NYSE:WM opened at $218.03 on Wednesday. The stock has a market cap of $87.83 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. 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 quick ratio of 0.82 and a current ratio of 0.86. The business’s 50-day simple moving average is $225.64 and its 200 day simple moving average is $228.62.

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

Waste Management Announces Dividend

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

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.