Graham Capital Management L.P. Sells 6,386 Shares of Waste Management, Inc. $WM

Graham Capital Management L.P. cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 35.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,703 shares of the business services provider’s stock after selling 6,386 shares during the quarter. Graham Capital Management L.P.’s holdings in Waste Management were worth $2,709,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Ascent Group LLC increased its holdings in shares of Waste Management by 0.6% during the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock worth $1,520,000 after purchasing an additional 44 shares during the period. Insight Wealth Strategies LLC increased its holdings in shares of Waste Management by 0.4% during the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock worth $2,698,000 after purchasing an additional 44 shares during the period. Stonebridge Financial Group LLC increased its holdings in shares of Waste Management by 3.0% during the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock worth $355,000 after purchasing an additional 45 shares during the period. Formidable Asset Management LLC increased its holdings in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock worth $536,000 after purchasing an additional 45 shares during the period. Finally, KRS Capital Management LLC increased its stake in Waste Management by 3.1% in the first quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 46 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. CIBC lifted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, June 26th. Melius assumed coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. raised shares of Waste Management from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Raymond James Financial lifted their price objective on shares of Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Finally, National Bank Financial raised shares of Waste Management to a “hold” rating in a research note on Monday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $254.35.

Waste Management Stock Performance

Shares of Waste Management stock opened at $226.69 on Monday. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market capitalization of $91.32 billion, a P/E ratio of 33.63, a P/E/G ratio of 2.78 and a beta of 0.64. The company’s 50 day moving average price is $228.48 and its two-hundred day moving average price is $229.80.

Waste Management (NYSE:WM) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts forecast 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 will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management’s payout ratio is 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.