Waste Management, Inc. $WM Stock Position Decreased by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 23.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,605 shares of the business services provider’s stock after selling 3,893 shares during the quarter. Bleakley Financial Group LLC’s holdings in Waste Management were worth $2,884,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Zevenbergen Capital Investments LLC boosted its stake in shares of Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock worth $2,158,000 after acquiring an additional 2,200 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Waste Management in the second quarter valued at $6,865,000. Brighton Jones LLC lifted its holdings in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Waste Management by 82.9% in the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock valued at $5,248,000 after purchasing an additional 10,272 shares in the last quarter. Finally, BROOKFIELD Corp ON lifted its holdings in shares of Waste Management by 25.1% in the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock valued at $4,661,000 after purchasing an additional 4,043 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Down 0.7%

WM stock opened at $214.56 on Friday. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a market cap of $86.43 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The business’s 50-day simple moving average is $219.89 and its 200 day simple moving average is $227.08. 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 released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on WM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a report on Friday. National Bankshares lowered 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 report on Tuesday, October 7th. Raymond James Financial increased 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. Oppenheimer decreased their target price on Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Finally, Citigroup decreased their target price on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.00.

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.