International Assets Investment Management LLC Trims Stake in Waste Management, Inc. $WM

International Assets Investment Management LLC reduced its position in Waste Management, Inc. (NYSE:WM) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,573 shares of the business services provider’s stock after selling 93 shares during the quarter. International Assets Investment Management LLC’s holdings in Waste Management were worth $3,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gladwyn Financial Advisors Inc. purchased a new stake in Waste Management in the 2nd quarter worth about $58,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Waste Management in the 2nd quarter worth about $6,865,000. Signature Estate & Investment Advisors LLC raised its position in Waste Management by 4.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,347 shares of the business services provider’s stock worth $308,000 after purchasing an additional 62 shares during the period. Spirit of America Management Corp NY raised its position in Waste Management by 26.7% in the 2nd quarter. Spirit of America Management Corp NY now owns 1,900 shares of the business services provider’s stock worth $435,000 after purchasing an additional 400 shares during the period. Finally, Koshinski Asset Management Inc. raised its position in Waste Management by 1.3% in the 2nd quarter. Koshinski Asset Management Inc. now owns 12,147 shares of the business services provider’s stock worth $2,779,000 after purchasing an additional 155 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank upped their target price on shares of Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. National Bankshares dropped their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. BMO Capital Markets upped their target price on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 30th. Oppenheimer dropped their target price on shares of Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

Waste Management Price Performance

NYSE WM opened at $215.59 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm’s 50 day moving average price is $221.39 and its 200-day moving average price is $227.42. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a market cap of $86.85 billion, a PE ratio of 31.99, a P/E/G ratio of 2.65 and a beta of 0.64.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm earned $1.82 earnings per share. The company’s quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts forecast 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. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) 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.