MainStreet Investment Advisors LLC Trims Stock Position in Waste Management, Inc. $WM

MainStreet Investment Advisors LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 51,554 shares of the business services provider’s stock after selling 1,016 shares during the period. Waste Management comprises about 1.6% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 16th largest holding. MainStreet Investment Advisors LLC’s holdings in Waste Management were worth $11,797,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Saudi Central Bank purchased a new position in shares of Waste Management during the 1st quarter valued at approximately $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the 1st quarter worth about $38,000. Wealth Watch Advisors INC acquired a new stake in shares of Waste Management during the 2nd quarter valued at about $43,000. New Age Alpha Advisors LLC purchased a new position in shares of Waste Management in the 1st quarter valued at about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock worth $47,000 after purchasing an additional 160 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of NYSE WM opened at $207.74 on Tuesday. The firm has a 50-day simple moving average of $212.64 and a 200-day simple moving average of $224.14. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. The stock has a market capitalization of $83.69 billion, a price-to-earnings ratio of 32.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58.

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

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WM shares. Citigroup boosted their price objective on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. UBS Group dropped their price target on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company started coverage on shares of Waste Management in a research report on Friday. They set an “overweight” rating and a $238.00 price objective for the company. Barclays dropped their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.25.

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.