RAM Investment Partners LLC Buys New Shares in Waste Management, Inc. $WM

RAM Investment Partners LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, HoldingsChannel.com reports. The fund purchased 1,326 shares of the business services provider’s stock, valued at approximately $303,000.

Several other institutional investors also recently made changes to their positions in WM. Wealthfront Advisers LLC increased its position in Waste Management by 3.1% during the 2nd quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock worth $13,064,000 after purchasing an additional 1,698 shares in the last quarter. GPM Growth Investors Inc. grew its stake in Waste Management by 50.6% during the second quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock worth $3,808,000 after buying an additional 5,588 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of Waste Management in the second quarter worth $4,361,000. Zevenbergen Capital Investments LLC raised its stake in shares of Waste Management by 30.4% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after acquiring an additional 2,200 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Waste Management during the 2nd quarter valued at $6,865,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

WM stock opened at $204.55 on Friday. The stock’s 50 day moving average is $213.09 and its two-hundred day moving average is $224.56. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58. The company has a market capitalization of $82.41 billion, a PE ratio of 32.21, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Analysts predict 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 will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued 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 is Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is currently 51.97%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WM shares. Barclays cut their price objective on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Cowen reiterated a “buy” rating on shares of Waste Management in a report on Wednesday, October 29th. CIBC decreased their price target on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Stifel Nicolaus lowered their price objective on shares of Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $248.79.

Waste Management 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.