Waste Management, Inc. $WM Stake Lessened by G&S Capital LLC

G&S Capital LLC lowered its holdings in Waste Management, Inc. (NYSE:WM) by 3.1% in the second quarter, Holdings Channel.com reports. The firm owned 11,787 shares of the business services provider’s stock after selling 380 shares during the period. G&S Capital LLC’s holdings in Waste Management were worth $2,697,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WM. Nuveen LLC acquired a new position in shares of Waste Management in the first quarter worth $333,089,000. Ameriprise Financial Inc. raised its holdings in shares of Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Waste Management by 26.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider’s stock valued at $774,000,000 after purchasing an additional 709,557 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Waste Management by 738.2% in the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider’s stock valued at $175,766,000 after purchasing an additional 668,637 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of Waste Management by 16,999.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider’s stock valued at $153,043,000 after purchasing an additional 657,194 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE WM opened at $219.24 on Tuesday. The stock has a market cap of $88.31 billion, a P/E ratio of 32.53, a PEG ratio of 2.67 and a beta of 0.64. The company’s 50-day simple moving average is $225.05 and its 200 day simple moving average is $228.48. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s dividend payout ratio is currently 48.96%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WM shares. BMO Capital Markets lifted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research note on Wednesday, July 30th. Citigroup cut their price objective on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. UBS Group upped their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Oppenheimer upped their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Barclays initiated coverage on shares of Waste Management in a research report on Friday, September 19th. They set an “overweight” rating and a $272.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.17.

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.