Forte Capital LLC ADV Cuts Stock Holdings in Waste Management, Inc. $WM

Forte Capital LLC ADV lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,886 shares of the business services provider’s stock after selling 149 shares during the period. Forte Capital LLC ADV’s holdings in Waste Management were worth $4,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Ascent Group LLC grew its stake in shares of Waste Management by 0.6% in the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock worth $1,520,000 after buying an additional 44 shares in the last quarter. Insight Wealth Strategies LLC boosted its stake in shares of Waste Management by 0.4% during the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock valued at $2,698,000 after purchasing an additional 44 shares during the period. McAdam LLC boosted its holdings in shares of Waste Management by 3.1% in the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after purchasing an additional 44 shares during the period. Stonebridge Financial Group LLC raised its holdings in shares of Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after acquiring an additional 45 shares in the last quarter. Finally, Formidable Asset Management LLC increased its holdings in Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after buying an additional 45 shares during the period. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on WM shares. Melius Research upgraded shares of Waste Management to a “strong-buy” rating and set a $263.00 price objective for the company in a research note on Monday, June 9th. Erste Group Bank cut Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. William Blair reiterated an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Scotiabank lifted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Finally, Citigroup reduced their target price on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.17.

Waste Management Trading Up 0.3%

Shares of Waste Management stock opened at $217.09 on Tuesday. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The firm’s 50-day moving average price is $225.80 and its 200 day moving average price is $228.69. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The firm has a market capitalization of $87.45 billion, a PE ratio of 32.21, a P/E/G ratio of 2.65 and a beta of 0.64.

Waste Management (NYSE:WM) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the business posted $1.82 earnings per share. The business’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 predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is 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.