Savvy Advisors Inc. Boosts Stock Position in Waste Management, Inc. $WM

Savvy Advisors Inc. boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 15.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,828 shares of the business services provider’s stock after purchasing an additional 927 shares during the quarter. Savvy Advisors Inc.’s holdings in Waste Management were worth $1,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Assetmark Inc. increased its holdings in Waste Management by 67.2% during the 2nd quarter. Assetmark Inc. now owns 3,733 shares of the business services provider’s stock worth $854,000 after purchasing an additional 1,500 shares during the last quarter. Keybank National Association OH increased its holdings in Waste Management by 17.0% during the 2nd quarter. Keybank National Association OH now owns 35,002 shares of the business services provider’s stock worth $8,009,000 after purchasing an additional 5,075 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in Waste Management by 1.9% during the 2nd quarter. HBK Sorce Advisory LLC now owns 6,834 shares of the business services provider’s stock worth $1,564,000 after purchasing an additional 126 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in Waste Management by 13.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 1,214 shares of the business services provider’s stock worth $278,000 after purchasing an additional 143 shares during the last quarter. Finally, Buck Wealth Strategies LLC grew its position in shares of Waste Management by 9.0% in the 2nd quarter. Buck Wealth Strategies LLC now owns 47,824 shares of the business services provider’s stock worth $10,943,000 after acquiring an additional 3,955 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 1.6%

NYSE:WM opened at $200.61 on Friday. Waste Management, Inc. has a 12-month low of $197.02 and a 12-month high of $242.58. The firm has a market capitalization of $80.81 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.51 and a beta of 0.64. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82. The business has a 50 day simple moving average of $217.96 and a 200 day simple moving average of $226.54.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, September 12th. Waste Management’s payout ratio is 51.97%.

Analysts Set New Price Targets

Several brokerages have recently commented on WM. Barclays decreased their target price on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a research report on Wednesday. CIBC decreased their target price on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group decreased their target price on Waste Management from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Truist Financial set a $260.00 target price on Waste Management in a research report on Wednesday. Finally, Citigroup lifted their target price on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.44.

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.