Crestwood Advisors Group LLC Increases Stake in Waste Management, Inc. $WM

Crestwood Advisors Group LLC grew its stake in Waste Management, Inc. (NYSE:WM) by 12.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,088 shares of the business services provider’s stock after buying an additional 787 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Waste Management were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WM. Wealthfront Advisers LLC grew its holdings in shares of Waste Management by 3.1% in the second quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after purchasing an additional 1,698 shares during the period. GPM Growth Investors Inc. boosted its holdings in Waste Management by 50.6% in the 2nd quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after purchasing an additional 5,588 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Waste Management in the 2nd quarter valued at approximately $4,361,000. Brighton Jones LLC increased its holdings in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Waste Management during the 2nd quarter valued at approximately $6,865,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. UBS Group cut their price objective on Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. CIBC reduced their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Truist Financial set a $260.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Finally, Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.44.

Waste Management Stock Performance

NYSE WM opened at $199.48 on Friday. 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 company has a market cap of $80.36 billion, a P/E ratio of 31.41, a P/E/G ratio of 2.51 and a beta of 0.62. The stock has a 50-day moving average of $215.37 and a two-hundred day moving average of $225.45. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current 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. The ex-dividend date was Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.7%. Waste Management’s payout ratio is 51.97%.

About Waste Management

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.