C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $355,000 Position in Waste Management, Inc. $WM

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Waste Management, Inc. (NYSE:WM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,553 shares of the business services provider’s stock, valued at approximately $355,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Welch & Forbes LLC grew its position in shares of Waste Management by 25.8% in the second quarter. Welch & Forbes LLC now owns 8,134 shares of the business services provider’s stock valued at $1,861,000 after purchasing an additional 1,666 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its stake in Waste Management by 5.9% during the 2nd quarter. American Institute for Advanced Investment Management LLP now owns 2,250 shares of the business services provider’s stock valued at $515,000 after purchasing an additional 125 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in Waste Management by 26.6% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,032 shares of the business services provider’s stock valued at $236,000 after purchasing an additional 217 shares during the last quarter. AlphaStar Capital Management LLC raised its stake in Waste Management by 10.9% during the 2nd quarter. AlphaStar Capital Management LLC now owns 1,582 shares of the business services provider’s stock valued at $362,000 after purchasing an additional 156 shares during the last quarter. Finally, Creekmur Asset Management LLC raised its stake in Waste Management by 12.8% during the 2nd quarter. Creekmur Asset Management LLC now owns 3,938 shares of the business services provider’s stock valued at $901,000 after purchasing an additional 446 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Down 0.3%

WM opened at $200.03 on Monday. The firm’s 50-day simple moving average is $217.43 and its 200-day simple moving average is $226.26. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84. Waste Management, Inc. has a twelve month low of $197.02 and a twelve month high of $242.58. The firm has a market cap of $80.58 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 2.51 and a beta of 0.64.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the company posted $1.96 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

WM has been the subject of several research analyst reports. Truist Financial set a $260.00 target price on shares of Waste Management in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Barclays cut their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered their price target on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $248.61.

About Waste Management

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.