Morton Capital Management LLC CA Boosts Holdings in Waste Management, Inc. $WM

Morton Capital Management LLC CA increased its holdings in Waste Management, Inc. (NYSE:WM) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,421 shares of the business services provider’s stock after purchasing an additional 188 shares during the period. Morton Capital Management LLC CA’s holdings in Waste Management were worth $783,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its holdings in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. West Branch Capital LLC lifted its holdings in Waste Management by 69.0% in the 1st 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 in the last quarter. Saudi Central Bank purchased a new position in Waste Management in the 1st quarter worth approximately $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the 1st quarter worth approximately $38,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Waste Management during the 1st quarter worth approximately $45,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Raymond James Financial upped their price objective on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. CIBC upped their price objective on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. UBS Group upped their price objective on Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Finally, National Bankshares decreased their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $254.53.

Waste Management Stock Performance

NYSE:WM opened at $217.54 on Wednesday. The stock’s fifty day moving average is $223.72 and its 200 day moving average is $228.15. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The firm has a market capitalization of $87.63 billion, a PE ratio of 32.28, a PEG ratio of 2.66 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.

Waste Management (NYSE:WM) last released its quarterly 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. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.Waste Management’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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 earnings per share for the current year.

Waste Management Announces Dividend

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

Waste Management Company 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.