Destiny Wealth Partners LLC Takes $329,000 Position in Waste Management, Inc. $WM

Destiny Wealth Partners LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,437 shares of the business services provider’s stock, valued at approximately $329,000.

A number of other hedge funds have also added to or reduced their stakes in WM. Westend Capital Management LLC grew its position in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after buying an additional 66 shares during the period. West Branch Capital LLC boosted its position in shares of Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after purchasing an additional 49 shares during the period. Saudi Central Bank bought a new stake in shares of Waste Management during the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management during the 1st quarter valued at $38,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Waste Management in the 1st quarter worth $45,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. BMO Capital Markets lifted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Melius began coverage on shares of Waste Management in a research report on Monday, June 9th. They set a “buy” rating for the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.17.

Waste Management Trading Down 1.0%

WM opened at $217.24 on Friday. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market cap of $87.51 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 2.68 and a beta of 0.64. The stock’s 50 day moving average price is $225.34 and its 200-day moving average price is $228.49.

Waste Management (NYSE:WM) last issued its 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. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th. Waste Management’s payout ratio is presently 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.