Commonwealth Equity Services LLC Sells 1,112 Shares of Waste Management, Inc. $WM

Commonwealth Equity Services LLC trimmed its stake in Waste Management, Inc. (NYSE:WM) by 0.4% during the second quarter, HoldingsChannel.com reports. The fund owned 300,221 shares of the business services provider’s stock after selling 1,112 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Waste Management were worth $68,697,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. McAdam LLC boosted its stake in Waste Management by 3.1% in the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after purchasing an additional 44 shares in the last quarter. Syntegra Private Wealth Group LLC boosted its stake in shares of Waste Management by 2.0% in the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after purchasing an additional 44 shares during the last quarter. Formidable Asset Management LLC grew its holdings in Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock worth $536,000 after acquiring an additional 45 shares during the period. Harbour Trust & Investment Management Co increased its stake in shares of Waste Management by 1.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after acquiring an additional 45 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in Waste Management by 3.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Down 0.5%

Shares of Waste Management stock opened at $199.48 on Friday. The firm has a market cap of $80.36 billion, a PE ratio of 31.41, a P/E/G ratio of 2.51 and a beta of 0.62. The business’s 50 day simple moving average is $215.37 and its 200 day simple moving average is $225.45. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58.

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

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, September 12th. Waste Management’s payout ratio is presently 51.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WM. Royal Bank Of Canada reduced their price target on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 29th. Oppenheimer reissued an “outperform” rating and issued a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Raymond James Financial raised their price target on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Cowen reiterated a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Finally, Baird R W upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.44.

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.