Sax Wealth Advisors LLC Raises Stock Position in Waste Management, Inc. $WM

Sax Wealth Advisors LLC raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 18.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,214 shares of the business services provider’s stock after purchasing an additional 190 shares during the period. Sax Wealth Advisors LLC’s holdings in Waste Management were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Friedenthal Financial bought a new position in shares of Waste Management during the 2nd quarter valued at about $957,000. Independent Solutions Wealth Management LLC boosted its holdings in shares of Waste Management by 4.9% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 1,939 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 91 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Waste Management by 5.1% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 10,000 shares of the business services provider’s stock valued at $2,288,000 after purchasing an additional 482 shares during the last quarter. KLP Kapitalforvaltning AS lifted its holdings in shares of Waste Management by 3.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 198,653 shares of the business services provider’s stock valued at $45,456,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Seamount Financial Group Inc. grew its position in Waste Management by 3.7% in the second quarter. Seamount Financial Group Inc. now owns 3,931 shares of the business services provider’s stock worth $899,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $217.56 on Friday. The firm has a market cap of $87.64 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.71 and a beta of 0.64. The company’s 50 day moving average is $223.24 and its 200 day moving average is $228.03. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. Waste Management’s revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on WM. Scotiabank lifted their price target on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Erste Group Bank lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. William Blair reissued an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Finally, UBS Group raised their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.32.

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.