Westchester Capital Management Inc. Has $20.31 Million Stock Holdings in Waste Management, Inc. $WM

Westchester Capital Management Inc. lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 88,739 shares of the business services provider’s stock after selling 425 shares during the period. Waste Management makes up about 4.8% of Westchester Capital Management Inc.’s holdings, making the stock its 7th biggest holding. Westchester Capital Management Inc.’s holdings in Waste Management were worth $20,305,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Westend Capital Management LLC raised its stake in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after buying an additional 66 shares during the last quarter. Saudi Central Bank bought a new position in Waste Management during the first quarter worth $37,000. GKV Capital Management Co. Inc. bought a new position in Waste Management during the first quarter worth $38,000. New Age Alpha Advisors LLC bought a new position in Waste Management during the first quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in Waste Management by 381.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock worth $47,000 after buying an additional 160 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

WM stock opened at $219.09 on Monday. The firm has a 50 day simple moving average of $223.04 and a two-hundred day simple moving average of $227.96. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market cap of $88.26 billion, a PE ratio of 32.51, a P/E/G ratio of 2.70 and a beta of 0.64. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate 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 was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays lowered their target price on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a research note on Thursday. Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Citigroup cut their price target on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. National Bankshares reduced their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Finally, BMO Capital Markets lifted their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $254.32.

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.