Laffer Tengler Investments Inc. Boosts Holdings in Waste Management, Inc. $WM

Laffer Tengler Investments Inc. increased its position in shares of Waste Management, Inc. (NYSE:WM) by 424.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,488 shares of the business services provider’s stock after buying an additional 4,442 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Waste Management were worth $1,256,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WM. McAdam LLC grew its holdings in shares of Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after purchasing an additional 44 shares during the period. Syntegra Private Wealth Group LLC lifted its position in Waste Management by 2.0% in the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after buying an additional 44 shares during the last quarter. Formidable Asset Management LLC boosted its stake 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 worth $536,000 after buying an additional 45 shares during the period. Harbour Trust & Investment Management Co increased its position in shares of Waste Management by 1.1% during the second quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after acquiring an additional 45 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its stake in shares of Waste Management by 3.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 46 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Up 1.1%

Shares of Waste Management stock opened at $201.87 on Monday. 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, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58. The company has a market capitalization of $81.33 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a 50 day moving average of $214.88 and a 200 day moving average of $225.21.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 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 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a dividend of $0.825 per share. The ex-dividend date was Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.6%. Waste Management’s payout ratio is presently 51.97%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WM. Oppenheimer reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a research report on Wednesday, October 29th. National Bankshares dropped their price objective 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. Citigroup raised their target price on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings lowered shares of Waste Management from a “buy (b)” rating to a “hold (c+)” rating in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $248.44.

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.