Caitong International Asset Management Co. Ltd Buys Shares of 952 Waste Management, Inc. $WM

Caitong International Asset Management Co. Ltd bought a new stake in shares of Waste Management, Inc. (NYSE:WM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 952 shares of the business services provider’s stock, valued at approximately $218,000.

A number of other hedge funds have also added to or reduced their stakes in WM. Westend Capital Management LLC raised its stake 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 buying an additional 66 shares during the last quarter. Saudi Central Bank purchased a new stake in Waste Management during the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management during the 1st quarter valued at $38,000. New Age Alpha Advisors LLC purchased a new stake in Waste Management during the 1st quarter valued at $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake 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 buying an additional 160 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WM shares. William Blair reissued an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Royal Bank Of Canada reissued a “sector perform” rating and set a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Stifel Nicolaus started coverage on shares of Waste Management in a research report on Tuesday, September 30th. They set a “buy” rating and a $252.00 price objective for the company. Citigroup cut their price objective on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Finally, UBS Group cut their price objective on shares of Waste Management from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Two 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Waste Management Trading Down 0.2%

Shares of Waste Management stock opened at $216.10 on Friday. The company has a market capitalization of $87.05 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.67 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. The company has a fifty day moving average of $220.13 and a 200 day moving average of $227.09. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. Waste Management’s quarterly revenue was up 19.0% compared to the same quarter last year. 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 fiscal year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend 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.