D.A. Davidson & CO. Buys 3,378 Shares of Waste Management, Inc. $WM

D.A. Davidson & CO. grew its stake in Waste Management, Inc. (NYSE:WM) by 4.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 88,130 shares of the business services provider’s stock after acquiring an additional 3,378 shares during the quarter. D.A. Davidson & CO.’s holdings in Waste Management were worth $20,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. McAdam LLC boosted its holdings in shares of Waste Management by 3.1% in the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after acquiring an additional 44 shares in the last quarter. Syntegra Private Wealth Group LLC boosted its holdings in shares of Waste Management by 2.0% in the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock worth $524,000 after acquiring an additional 44 shares in the last quarter. Stonebridge Financial Group LLC boosted its holdings in shares of Waste Management by 3.0% in the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock worth $355,000 after acquiring an additional 45 shares in the last quarter. Formidable Asset Management LLC boosted its holdings in shares of Waste Management by 2.0% in the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock worth $536,000 after acquiring an additional 45 shares in the last quarter. Finally, Harbour Trust & Investment Management Co boosted its holdings in shares of Waste Management by 1.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock worth $943,000 after acquiring an additional 45 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

WM stock opened at $214.73 on Wednesday. The business’s fifty day moving average is $220.60 and its 200-day moving average is $227.20. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company has a market cap of $86.50 billion, a P/E ratio of 31.86, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58.

Waste Management (NYSE:WM) last posted its quarterly earnings results 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. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given 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 dividend payout ratio is currently 48.96%.

Analysts Set New Price Targets

Several brokerages have recently commented on WM. Stifel Nicolaus began coverage on Waste Management in a report on Tuesday, September 30th. They issued a “buy” rating and a $252.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. UBS Group reduced their price objective on Waste Management from $265.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Scotiabank upped their price objective on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Finally, BMO Capital Markets upped their price objective on Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and a consensus price target of $253.00.

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.