ABC Arbitrage SA Acquires 6,057 Shares of Waste Management, Inc. $WM

ABC Arbitrage SA boosted its holdings in Waste Management, Inc. (NYSE:WM) by 62.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,703 shares of the business services provider’s stock after buying an additional 6,057 shares during the period. ABC Arbitrage SA’s holdings in Waste Management were worth $3,593,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Saudi Central Bank acquired a new position in Waste Management in the 1st quarter valued at approximately $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management in the first quarter valued at approximately $38,000. Wealth Watch Advisors INC acquired a new position in Waste Management in the second quarter worth $43,000. New Age Alpha Advisors LLC bought a new stake in Waste Management during the 1st quarter worth about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in Waste Management by 381.0% during the 1st 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 in the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WM has been the topic of several research reports. Royal Bank Of Canada cut their price target on Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Raymond James Financial raised their target price on shares of Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Robert W. Baird raised shares of Waste Management from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Barclays lowered their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “hold (c+)” rating in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $248.44.

Waste Management Price Performance

Shares of WM stock opened at $203.26 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The firm has a fifty day moving average of $213.90 and a 200-day moving average of $224.85. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62.

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

Waste Management Announces Dividend

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

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.