Alta Capital Management LLC Boosts Stock Holdings in Waste Management, Inc. $WM

Alta Capital Management LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,900 shares of the business services provider’s stock after purchasing an additional 327 shares during the period. Alta Capital Management LLC’s holdings in Waste Management were worth $9,130,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Zevenbergen Capital Investments LLC raised its stake in Waste Management by 30.4% during the second quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock worth $2,158,000 after purchasing an additional 2,200 shares during the period. Brighton Jones LLC raised its stake in Waste Management by 51.1% during the fourth 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. Empowered Funds LLC increased its position in shares of Waste Management by 82.9% in the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock worth $5,248,000 after acquiring an additional 10,272 shares in the last quarter. BROOKFIELD Corp ON increased its position in shares of Waste Management by 25.1% in the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock worth $4,661,000 after acquiring an additional 4,043 shares in the last quarter. Finally, Czech National Bank increased its position in shares of Waste Management by 6.7% in the second quarter. Czech National Bank now owns 89,510 shares of the business services provider’s stock worth $20,482,000 after acquiring an additional 5,620 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Scotiabank increased their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a research report on Wednesday, October 8th. Barclays dropped their price objective on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. 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 investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $254.32.

Waste Management Price Performance

WM opened at $213.79 on Thursday. The company has a fifty day simple moving average of $222.19 and a 200 day simple moving average of $227.72. The firm has a market cap of $86.12 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 2.68 and a beta of 0.64. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were 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 was 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.