Norris Perne & French LLP MI Has $2.27 Million Stake in Waste Management, Inc. $WM

Norris Perne & French LLP MI raised its position in shares of Waste Management, Inc. (NYSE:WM) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,931 shares of the business services provider’s stock after acquiring an additional 100 shares during the period. Norris Perne & French LLP MI’s holdings in Waste Management were worth $2,273,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. McAdam LLC increased its holdings in shares of Waste Management by 3.1% during the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after buying an additional 44 shares in the last quarter. 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 buying an additional 45 shares in the last quarter. 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 buying an additional 45 shares in the last quarter. KRS Capital Management LLC increased its holdings in shares of 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 purchasing an additional 46 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Waste Management by 3.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WM. Melius began coverage on shares of Waste Management in a report on Monday, June 9th. They issued a “buy” rating for the company. Citigroup lowered their price target on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Melius Research raised shares of Waste Management to a “strong-buy” rating and set a $263.00 price target for the company in a report on Monday, June 9th. UBS Group raised their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Finally, Scotiabank raised their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.17.

Waste Management Price Performance

Shares of WM stock opened at $218.76 on Monday. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The stock has a market cap of $88.12 billion, a PE ratio of 32.46, a PEG ratio of 2.67 and a beta of 0.64. 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 firm’s 50 day moving average price is $225.18 and its two-hundred day moving average price is $228.52.

Waste Management (NYSE:WM) last announced its quarterly earnings data 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 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 analysts’ expectations of $6.37 billion. During the same period last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.825 per share. The ex-dividend date 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.