Ameliora Wealth Management Ltd. Trims Stake in Waste Management, Inc. $WM

Key Points

• Ameliora Wealth Management Ltd. reduced its stake in Waste Management, Inc. by 9.9% in Q2, holding 14,586 shares valued at approximately $3.34 million, making it the fund's 22nd largest investment.
• Wall Street analysts have given a generally positive outlook for Waste Management, with an average price target of $255.17 and ratings ranging from "Strong Buy" to "Hold."
• The company reported a 19% year-over-year revenue increase and an EPS of $1.92 for Q2, exceeding analyst expectations for both earnings and revenue.

Ameliora Wealth Management Ltd. reduced its position in Waste Management, Inc. (NYSE:WM - Free Report) by 9.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,586 shares of the business services provider's stock after selling 1,611 shares during the period. Waste Management accounts for about 1.2% of Ameliora Wealth Management Ltd.'s holdings, making the stock its 22nd biggest holding. Ameliora Wealth Management Ltd.'s holdings in Waste Management were worth $3,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WM. Brighton Jones LLC lifted its holdings in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. purchased a new stake in shares of Waste Management in the 1st quarter valued at about $325,000. Sivia Capital Partners LLC purchased a new stake in shares of Waste Management in the 1st quarter valued at about $239,000. Wedmont Private Capital raised its stake in Waste Management by 5.9% during the 1st quarter. Wedmont Private Capital now owns 6,217 shares of the business services provider's stock valued at $1,426,000 after acquiring an additional 347 shares during the last quarter. Finally, Revolve Wealth Partners LLC purchased a new stake in Waste Management during the 1st quarter valued at approximately $223,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WM has been the subject of several analyst reports. CIBC upped their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. BMO Capital Markets upped their price objective on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Citigroup reduced their price objective on Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. Finally, Scotiabank upped their price objective on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $255.17.

Waste Management Stock Performance

Shares of WM stock opened at $217.68 on Tuesday. The company 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 stock has a 50 day simple moving average of $224.08 and a 200-day simple moving average of $228.22. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

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.

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