Pekin Hardy Strauss Inc. Sells 290 Shares of Waste Management, Inc. $WM

Pekin Hardy Strauss Inc. lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 5.0% in the second quarter, HoldingsChannel reports. The firm owned 5,472 shares of the business services provider’s stock after selling 290 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Waste Management were worth $1,252,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC raised its stake in shares of Waste Management by 15,782.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock valued at $395,512,000 after acquiring an additional 1,717,603 shares during the last quarter. Nuveen LLC bought a new stake in Waste Management during the 1st quarter worth approximately $333,089,000. Ameriprise Financial Inc. increased its holdings in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Waste Management by 26.9% in the 1st 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 valued at $774,000,000 after purchasing an additional 709,557 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in Waste Management by 738.2% in the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider’s stock worth $175,766,000 after purchasing an additional 668,637 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Up 1.1%

Shares of NYSE WM opened at $201.87 on Friday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The firm has a market capitalization of $81.33 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82. The company’s 50 day simple moving average is $214.88 and its 200 day simple moving average is $225.27.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.96 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 year.

Waste Management Announces Dividend

The business 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 1.6%. Waste Management’s dividend payout ratio is presently 51.97%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WM shares. Citigroup lifted their price target on Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, October 8th. William Blair reissued an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, CIBC reduced their price objective on Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $248.44.

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.