Putney Financial Group LLC Decreases Stock Position in Waste Management, Inc. $WM

Putney Financial Group LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,677 shares of the business services provider’s stock after selling 140 shares during the quarter. Putney Financial Group LLC’s holdings in Waste Management were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Saudi Central Bank purchased a new position in shares of Waste Management during the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. bought a new stake in Waste Management in the first quarter worth about $38,000. Wealth Watch Advisors INC purchased a new position in shares of Waste Management during the second quarter valued at approximately $43,000. New Age Alpha Advisors LLC purchased a new stake in shares of Waste Management in the first quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Waste Management by 381.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock worth $47,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WM shares. Scotiabank cut their price objective on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Truist Financial set a $260.00 price target on shares of Waste Management in a report on Wednesday. Cowen reaffirmed a “buy” rating on shares of Waste Management in a research note on Wednesday. Erste Group Bank cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Finally, National Bankshares reduced their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

Waste Management Stock Up 1.6%

Shares of Waste Management stock opened at $200.61 on Friday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82. The stock has a market cap of $80.81 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 2.51 and a beta of 0.64. The firm’s 50-day moving average is $217.96 and its two-hundred day moving average is $226.54. Waste Management, Inc. has a 1 year low of $197.02 and a 1 year high of $242.58.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the company posted $1.96 EPS. Waste Management’s revenue for the quarter was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is 51.97%.

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.