Sagespring Wealth Partners LLC Decreases Stock Position in Waste Management, Inc. $WM

Sagespring Wealth Partners LLC lessened its position in Waste Management, Inc. (NYSE:WM) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,548 shares of the business services provider’s stock after selling 147 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Waste Management were worth $1,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westend Capital Management LLC lifted its position in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after buying an additional 66 shares in the last quarter. Saudi Central Bank purchased a new position in Waste Management during the first quarter worth approximately $37,000. GKV Capital Management Co. Inc. purchased a new position in Waste Management during the first quarter worth approximately $38,000. New Age Alpha Advisors LLC purchased a new position in Waste Management during the first quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in Waste Management by 381.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock worth $47,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group lifted their price objective on Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Oppenheimer cut their target price on Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. CIBC raised their target price on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, June 26th. Raymond James Financial raised their target price on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, National Bankshares cut their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.32.

Waste Management Trading Up 0.5%

WM opened at $218.09 on Wednesday. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock has a market capitalization of $87.85 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 2.67 and a beta of 0.64. 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 business has a fifty day moving average price of $222.54 and a 200 day moving average price of $227.82.

Waste Management (NYSE:WM) last released its earnings results 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 return on equity of 34.37% and a net margin of 11.36%.The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same period in the previous year, the firm posted $1.82 EPS. Waste Management’s revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid 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 was Friday, September 12th. Waste Management’s payout ratio is presently 48.96%.

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.