Allworth Financial LP Boosts Stock Position in Waste Management, Inc. $WM

Allworth Financial LP grew its position in shares of Waste Management, Inc. (NYSE:WM) by 40.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,932 shares of the business services provider’s stock after purchasing an additional 6,057 shares during the quarter. Allworth Financial LP’s holdings in Waste Management were worth $4,790,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Saudi Central Bank purchased a new position in shares of Waste Management during the first quarter worth approximately $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management during the 1st quarter valued at $38,000. Wealth Watch Advisors INC purchased a new position in Waste Management in the 2nd quarter worth $43,000. New Age Alpha Advisors LLC bought a new stake in Waste Management in the first quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in Waste Management by 381.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after buying an additional 160 shares during the period. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WM. Stifel Nicolaus lowered their target price on Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Cowen reiterated a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $238.00 to $242.00 in a report on Tuesday, November 4th. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Finally, Scotiabank dropped their price target on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 29th. Three 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $248.44.

Waste Management Trading Up 1.4%

Shares of WM opened at $203.26 on Wednesday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $242.58. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36. The firm’s 50-day moving average price is $213.90 and its 200-day moving average price is $224.85. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 2.51 and a beta of 0.62.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the business earned $1.96 earnings per share. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.825 dividend. This represents a $3.30 annualized dividend 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%.

Waste Management 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.