Thoroughbred Financial Services LLC Has $1.44 Million Stock Position in Waste Management, Inc. $WM

Thoroughbred Financial Services LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 35.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,271 shares of the business services provider’s stock after selling 3,377 shares during the period. Thoroughbred Financial Services LLC’s holdings in Waste Management were worth $1,435,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Saudi Central Bank acquired a new stake in shares of Waste Management in the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management in the first quarter valued at about $38,000. Wealth Watch Advisors INC bought a new stake in Waste Management during the second quarter worth about $43,000. New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management during the first quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake 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 valued at $47,000 after acquiring an additional 160 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Up 2.2%

NYSE WM opened at $208.97 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’s 50-day moving average is $212.87 and its 200-day moving average is $224.39. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The firm has a market cap of $84.19 billion, a P/E ratio of 32.91, a P/E/G ratio of 2.51 and a beta of 0.62.

Waste Management (NYSE:WM) last announced 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 company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. 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 company also recently announced 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, December 5th. Waste Management’s dividend payout ratio is 51.97%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. CIBC cut their price objective on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. National Bankshares lowered their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. William Blair reiterated an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Waste Management in a research report on Thursday. Finally, Cowen reiterated a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $248.25.

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.