AMI Asset Management Corp Reduces Holdings in Waste Management, Inc. $WM

AMI Asset Management Corp decreased its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,741 shares of the business services provider's stock after selling 10,842 shares during the quarter. Waste Management accounts for about 2.5% of AMI Asset Management Corp's investment portfolio, making the stock its 20th largest position. AMI Asset Management Corp's holdings in Waste Management were worth $43,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WM. Warren Street Wealth Advisors LLC lifted its holdings in Waste Management by 8.9% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,045 shares of the business services provider's stock valued at $239,000 after purchasing an additional 85 shares in the last quarter. Naples Global Advisors LLC lifted its holdings in Waste Management by 1.1% during the second quarter. Naples Global Advisors LLC now owns 14,646 shares of the business services provider's stock valued at $3,351,000 after purchasing an additional 154 shares in the last quarter. Parsons Capital Management Inc. RI lifted its holdings in Waste Management by 1.9% during the second quarter. Parsons Capital Management Inc. RI now owns 10,522 shares of the business services provider's stock valued at $2,408,000 after purchasing an additional 195 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in Waste Management by 129.4% during the second quarter. Pure Financial Advisors LLC now owns 2,631 shares of the business services provider's stock valued at $602,000 after purchasing an additional 1,484 shares in the last quarter. Finally, Consolidated Planning Corp lifted its holdings in Waste Management by 2,285.0% during the second quarter. Consolidated Planning Corp now owns 25,186 shares of the business services provider's stock valued at $5,763,000 after purchasing an additional 24,130 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 0.3%

Waste Management stock opened at $220.10 on Thursday. 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, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock's 50 day simple moving average is $224.77 and its two-hundred day simple moving average is $228.37. The firm has a market cap of $88.66 billion, a PE ratio of 32.66, a P/E/G ratio of 2.70 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last announced its 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. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm posted $1.82 EPS. The business's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed 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 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management's dividend payout ratio is currently 48.96%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Erste Group Bank cut shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Melius initiated coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. BMO Capital Markets boosted their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus started coverage on shares of Waste Management in a research report on Tuesday. They issued a "buy" rating and a $252.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.17.

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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.