Annex Advisory Services LLC Increases Stock Position in Waste Management, Inc. $WM

Key Points

• Annex Advisory Services LLC significantly increased its stake in Waste Management, acquiring an additional 23,432 shares and bringing its total holdings to 25,810 shares, valued at approximately $5.9 million.
• Waste Management reported $1.92 EPS for the latest quarter, surpassing expectations and resulting in a 19% year-over-year revenue increase, totaling $6.43 billion.
• The company is set to pay a quarterly dividend of $0.825 per share, with a current dividend yield of 1.5%, reflecting a payout ratio of 48.96%.

Annex Advisory Services LLC boosted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 985.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,810 shares of the business services provider's stock after purchasing an additional 23,432 shares during the period. Annex Advisory Services LLC's holdings in Waste Management were worth $5,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its holdings in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. West Branch Capital LLC increased its stake in shares of Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the period. Saudi Central Bank purchased a new stake in shares of Waste Management in the 1st quarter valued at approximately $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management in the 1st quarter valued at $38,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Waste Management in the first quarter worth about $45,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of NYSE WM traded up $0.74 during trading hours on Friday, hitting $216.66. 2,835,145 shares of the stock were exchanged, compared to its average volume of 1,493,238. 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's 50 day moving average is $226.04 and its 200 day moving average is $228.78. The firm has a market capitalization of $87.28 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.65 and a beta of 0.64. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company 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 earned $1.82 EPS. The company's revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th. Waste Management's payout ratio is presently 48.96%.

Analyst Ratings Changes

Several research firms recently issued reports on WM. Barclays began coverage on shares of Waste Management in a research report on Friday. They issued an "overweight" rating and a $272.00 price target for the company. BMO Capital Markets raised their price objective on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 30th. Melius began coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating for the company. UBS Group lifted their price objective on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial upped their target price on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.