Rehmann Capital Advisory Group Acquires 253 Shares of Waste Management, Inc. $WM

Rehmann Capital Advisory Group grew its holdings in Waste Management, Inc. (NYSE:WM) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,977 shares of the business services provider’s stock after acquiring an additional 253 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Waste Management were worth $1,368,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Members Trust Co acquired a new position in shares of Waste Management during the second quarter worth about $284,000. Denali Advisors LLC boosted its position in shares of Waste Management by 31.2% during the second quarter. Denali Advisors LLC now owns 31,868 shares of the business services provider’s stock worth $7,292,000 after buying an additional 7,577 shares during the period. Brookstone Capital Management boosted its position in shares of Waste Management by 2.1% during the second quarter. Brookstone Capital Management now owns 30,881 shares of the business services provider’s stock worth $7,066,000 after buying an additional 641 shares during the period. Private Capital Advisors Inc. acquired a new position in shares of Waste Management during the second quarter worth about $4,219,000. Finally, D.A. Davidson & CO. boosted its position in shares of Waste Management by 4.0% during the second quarter. D.A. Davidson & CO. now owns 88,130 shares of the business services provider’s stock worth $20,166,000 after buying an additional 3,378 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on WM shares. William Blair reissued an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Raymond James Financial increased their price target on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. UBS Group reduced their price target 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. Oppenheimer reduced their price target on Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Waste Management in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Waste Management Price Performance

Shares of NYSE WM opened at $216.46 on Thursday. The firm has a market cap of $87.20 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The business’s 50 day moving average is $220.33 and its 200-day moving average is $227.12.

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

Waste Management Dividend Announcement

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

Waste Management 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.