Angeles Wealth Management LLC Raises Stake in Waste Management, Inc. $WM

Key Points

• Angeles Wealth Management LLC has increased its stake in Waste Management, Inc. by 35.2% during the second quarter, now owning 5,292 shares valued at $1,211,000.
• Institutional investors collectively own 80.40% of Waste Management's stock, with notable increases also from Valeo Financial Advisors (up 15,782.4%) and Ameriprise Financial Inc. (up 30.4%).
• Waste Management recently reported a net margin of 11.36% and a 19% year-over-year revenue increase, generating $6.43 billion in the latest quarter.

Angeles Wealth Management LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 35.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,292 shares of the business services provider's stock after buying an additional 1,379 shares during the period. Angeles Wealth Management LLC's holdings in Waste Management were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WM. Valeo Financial Advisors LLC raised its position in shares of Waste Management by 15,782.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider's stock valued at $395,512,000 after buying an additional 1,717,603 shares during the last quarter. Nuveen LLC bought a new stake in shares of Waste Management during the first quarter valued at approximately $333,089,000. Ameriprise Financial Inc. raised its position in shares of 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 valued at $1,233,240,000 after buying 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 shares of 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 buying an additional 709,557 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Waste Management by 738.2% during the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock valued at $175,766,000 after buying an additional 668,637 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Shares of WM stock opened at $212.99 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $85.80 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.63 and a beta of 0.64. The company's 50-day simple moving average is $221.79 and its two-hundred day simple moving average is $227.59. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58.

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

Waste Management Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WM shares. Barclays reduced their price objective on shares of Waste Management from $272.00 to $271.00 and set an "overweight" rating on the stock in a research report on Thursday, October 9th. CIBC boosted their price target on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. National Bankshares reduced their price target on shares of Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 7th. 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, Erste Group Bank cut shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

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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