Waste Management, Inc. $WM Shares Sold by RBA Wealth Management LLC

RBA Wealth Management LLC trimmed its stake in Waste Management, Inc. (NYSE:WM) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,671 shares of the business services provider’s stock after selling 173 shares during the period. Waste Management comprises about 2.7% of RBA Wealth Management LLC’s investment portfolio, making the stock its 6th biggest position. RBA Wealth Management LLC’s holdings in Waste Management were worth $7,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Westend Capital Management LLC lifted its holdings in shares of Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. West Branch Capital LLC increased its stake 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 valued at $28,000 after buying an additional 49 shares during the period. Saudi Central Bank bought a new position in shares of Waste Management during the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management in the first quarter valued at approximately $38,000. Finally, New Age Alpha Advisors LLC bought a new position in Waste Management in the 1st quarter valued at $45,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

WM stock opened at $218.76 on Friday. The company has a market capitalization of $88.12 billion, a PE ratio of 32.46, a P/E/G ratio of 2.67 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. The business’s fifty day moving average price is $225.18 and its 200 day moving average price is $228.49. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.

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

Waste Management Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Melius assumed coverage on Waste Management in a research report on Monday, June 9th. They set a “buy” rating on the stock. Raymond James Financial raised their price target on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Oppenheimer lifted their target price on Waste Management from $260.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Scotiabank lifted their price objective on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.17.

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.