Concurrent Investment Advisors LLC Has $6.50 Million Stock Position in Waste Management, Inc. $WM

Concurrent Investment Advisors LLC lifted its stake in Waste Management, Inc. (NYSE:WM) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,393 shares of the business services provider’s stock after acquiring an additional 1,849 shares during the period. Concurrent Investment Advisors LLC’s holdings in Waste Management were worth $6,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WM. Ameriprise Financial Inc. boosted its stake in Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after buying an additional 1,239,996 shares in the last quarter. Northern Trust Corp boosted its stake in Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock worth $941,709,000 after buying an additional 70,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Waste Management by 26.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider’s stock worth $774,000,000 after buying an additional 709,557 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Waste Management by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider’s stock worth $570,108,000 after buying an additional 36,836 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Waste Management by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider’s stock worth $505,137,000 after buying an additional 29,715 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $219.09 on Monday. The stock has a 50-day simple moving average of $223.04 and a 200 day simple moving average of $227.96. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The stock has a market capitalization of $88.26 billion, a price-to-earnings ratio of 32.51, a P/E/G ratio of 2.70 and a beta of 0.64.

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

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s payout ratio is currently 48.96%.

Wall Street Analyst Weigh In

WM has been the topic of a number of recent research reports. Barclays decreased their price target on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating on the stock in a research note on Thursday. Oppenheimer cut their price objective on Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Scotiabank lifted their price objective on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. BMO Capital Markets lifted their price objective on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $254.32.

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.