Sitrin Capital Management LLC Trims Holdings in Waste Management, Inc. $WM

Sitrin Capital Management LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,370 shares of the business services provider’s stock after selling 3,909 shares during the quarter. Waste Management accounts for about 3.3% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Sitrin Capital Management LLC’s holdings in Waste Management were worth $6,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its stake in 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 purchasing an additional 1,239,996 shares during the last quarter. Northern Trust Corp lifted its stake in Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock worth $941,709,000 after purchasing an additional 70,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Waste Management by 26.9% during the first 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 worth $774,000,000 after purchasing an additional 709,557 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Waste Management by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider’s stock valued at $570,108,000 after buying an additional 36,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Waste Management by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider’s stock valued at $505,137,000 after buying an additional 29,715 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup cut their target price on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Raymond James Financial raised their target price on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Barclays assumed coverage on Waste Management in a research note on Friday, September 19th. They issued an “overweight” rating and a $272.00 target price on the stock. Stifel Nicolaus started coverage on Waste Management in a research note on Tuesday, September 30th. They issued a “buy” rating and a $252.00 target price on the stock. Finally, Erste Group Bank lowered Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.37.

Waste Management Trading Up 1.1%

Shares of WM opened at $220.00 on Thursday. The business’s 50-day moving average price is $223.47 and its 200 day moving average price is $228.09. The stock has a market capitalization of $88.62 billion, a P/E ratio of 32.64, a P/E/G ratio of 2.66 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

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

Waste Management Dividend Announcement

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

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.