Waste Management, Inc. $WM Position Increased by Advisors Capital Management LLC

Advisors Capital Management LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 482.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,138 shares of the business services provider’s stock after purchasing an additional 24,138 shares during the period. Advisors Capital Management LLC’s holdings in Waste Management were worth $6,668,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Valeo Financial Advisors LLC lifted its holdings in 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 worth $395,512,000 after acquiring an additional 1,717,603 shares during the last quarter. Nuveen LLC bought a new stake in shares of Waste Management in the 1st quarter worth approximately $333,089,000. Ameriprise Financial Inc. boosted its position 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Waste Management by 26.9% during 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 worth $774,000,000 after buying an additional 709,557 shares during the last quarter. Finally, Voya Investment Management LLC increased its position 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 buying an additional 668,637 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $208.97 on Friday. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The business’s fifty day moving average is $212.87 and its two-hundred day moving average is $224.42. The stock has a market capitalization of $84.19 billion, a P/E ratio of 32.91, 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 quick ratio of 0.82 and a current ratio of 0.84.

Waste Management (NYSE:WM) last announced 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). 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 for the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the firm earned $1.96 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. CIBC dropped their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Stifel Nicolaus cut their price target on Waste Management from $252.00 to $236.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Truist Financial set a $260.00 price objective on Waste Management in a research report on Wednesday, October 29th. Robert W. Baird upgraded 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 report on Tuesday, November 4th. Finally, BMO Capital Markets raised their price target on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $248.25.

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.