Deroy & Devereaux Private Investment Counsel Inc. Increases Stake in Waste Management, Inc. $WM

Deroy & Devereaux Private Investment Counsel Inc. grew its stake in Waste Management, Inc. (NYSE:WM) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 95,508 shares of the business services provider’s stock after buying an additional 330 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Waste Management were worth $21,854,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in WM. Brighton Jones LLC boosted its stake in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Sprott Inc. acquired a new stake in shares of Waste Management during the 1st quarter worth about $325,000. GAMMA Investing LLC raised its position in shares of Waste Management by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after acquiring an additional 958 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Waste Management by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider’s stock worth $137,108,000 after acquiring an additional 24,023 shares in the last quarter. Finally, Keystone Wealth Services LLC acquired a new stake in shares of Waste Management during the 1st quarter worth about $291,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WM shares. CIBC raised their target price on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, June 26th. Oppenheimer cut their target price on Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Barclays cut their target price on Waste Management from $272.00 to $271.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Scotiabank lifted their price target on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus began coverage on Waste Management in a research report on Tuesday, September 30th. They set a “buy” rating and a $252.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.32.

Waste Management Trading Up 0.5%

NYSE:WM opened at $218.09 on Wednesday. The firm has a market cap of $87.85 billion, a P/E ratio of 32.36, a PEG 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 stock’s 50 day simple moving average is $222.54 and its 200-day simple moving average is $227.82. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.

Waste Management (NYSE:WM) last released 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 business 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%.The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.825 dividend. The ex-dividend date of this dividend 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%.

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.