Drake & Associates LLC Purchases 194 Shares of Waste Management, Inc. $WM

Drake & Associates LLC grew its position in Waste Management, Inc. (NYSE:WM) by 9.0% during the second quarter, HoldingsChannel.com reports. The fund owned 2,357 shares of the business services provider’s stock after acquiring an additional 194 shares during the quarter. Drake & Associates LLC’s holdings in Waste Management were worth $539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC grew its stake in shares of Waste Management by 15,782.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after buying an additional 1,717,603 shares in the last quarter. Nuveen LLC purchased a new position in Waste Management in the first quarter worth about $333,089,000. Ameriprise Financial Inc. increased its stake in Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Waste Management by 26.9% during the first 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 period. Finally, Voya Investment Management LLC lifted its stake in shares of Waste Management by 738.2% in the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider’s stock valued at $175,766,000 after purchasing an additional 668,637 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Waste Management stock opened at $217.68 on Tuesday. The stock has a market cap of $87.69 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm has a 50-day moving average of $224.08 and a two-hundred day moving average of $228.22. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.Waste Management’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. 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 year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, September 12th. Waste Management’s payout ratio is presently 48.96%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. BMO Capital Markets increased 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. Stifel Nicolaus began coverage on shares of Waste Management in a research note on Tuesday, September 30th. They issued a “buy” rating and a $252.00 target price on the stock. William Blair restated an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Citigroup cut their price target on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Finally, Scotiabank raised their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.17.

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.