Waste Management, Inc. $WM Position Lessened by Westhampton Capital LLC

Westhampton Capital LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,580 shares of the business services provider’s stock after selling 315 shares during the quarter. Waste Management accounts for about 2.8% of Westhampton Capital LLC’s investment portfolio, making the stock its 5th biggest position. Westhampton Capital LLC’s holdings in Waste Management were worth $5,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. grew its stake in Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. Northern Trust Corp boosted its stake in Waste Management by 1.8% in the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock valued at $941,709,000 after acquiring an additional 70,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Waste Management by 26.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider’s stock valued at $774,000,000 after acquiring an additional 709,557 shares during the period. Dimensional Fund Advisors LP boosted its stake in Waste Management by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider’s stock valued at $570,108,000 after acquiring an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Waste Management by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider’s stock valued at $505,137,000 after acquiring an additional 29,715 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WM shares. Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Citigroup decreased their target price on Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Melius Research upgraded Waste Management to a “strong-buy” rating and set a $263.00 price objective for the company in a research report on Monday, June 9th. Finally, CIBC boosted their price objective on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $255.17.

Waste Management Price Performance

WM opened at $219.24 on Tuesday. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The stock has a fifty day moving average price of $225.05 and a 200 day moving average price of $228.48. 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 stock has a market cap of $88.31 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.67 and a beta of 0.64.

Waste Management (NYSE:WM) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company earned $1.82 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal 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 paid a $0.825 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s payout ratio is presently 48.96%.

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.