Waste Management, Inc. $WM Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 13.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,918 shares of the business services provider’s stock after buying an additional 7,485 shares during the period. ProShare Advisors LLC’s holdings in Waste Management were worth $14,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Saudi Central Bank acquired a new position in Waste Management in the first quarter worth approximately $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management in the first quarter worth approximately $38,000. Wealth Watch Advisors INC acquired a new stake in shares of Waste Management during the 2nd quarter valued at $43,000. New Age Alpha Advisors LLC purchased a new position in Waste Management in the first quarter valued at about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after buying an additional 160 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird raised shares of Waste Management from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $238.00 to $242.00 in a research report on Tuesday, November 4th. Raymond James Financial raised their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Cowen reaffirmed a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Erste Group Bank cut Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Finally, Citigroup lifted their price objective on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $248.44.

Waste Management Trading Up 1.4%

Shares of NYSE WM opened at $203.26 on Wednesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The firm has a market capitalization of $81.88 billion, a P/E ratio of 32.01, a P/E/G ratio of 2.51 and a beta of 0.62. 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’s 50 day simple moving average is $213.90 and its 200 day simple moving average is $224.85.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s payout ratio is currently 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.