Drive Wealth Management LLC Purchases 97 Shares of Waste Management, Inc. $WM

Drive Wealth Management LLC grew its position in shares of Waste Management, Inc. (NYSE:WM) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,719 shares of the business services provider’s stock after purchasing an additional 97 shares during the quarter. Drive Wealth Management LLC’s holdings in Waste Management were worth $851,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Westend Capital Management LLC boosted its holdings in 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 acquiring an additional 66 shares during the period. Saudi Central Bank purchased a new stake in Waste Management during the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management during the 1st quarter valued at about $38,000. New Age Alpha Advisors LLC purchased a new stake in Waste Management during the 1st quarter valued at about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in Waste Management by 381.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 160 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Up 1.1%

Shares of NYSE:WM opened at $215.59 on Monday. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. 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 has a market capitalization of $86.85 billion, a P/E ratio of 31.99, a P/E/G ratio of 2.65 and a beta of 0.64. The stock has a 50 day moving average price of $221.39 and a 200-day moving average price of $227.35.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the company earned $1.82 EPS. The firm’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, equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Waste Management in a report on Wednesday, October 8th. William Blair restated an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Barclays dropped their price objective on Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Raymond James Financial increased 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. Finally, UBS Group decreased their target price on Waste Management from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

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.