Apollon Wealth Management LLC Acquires 29,433 Shares of Waste Management, Inc. $WM

Key Points

• Apollon Wealth Management LLC increased its stake in Waste Management, Inc. by 49.7% in Q2, acquiring an additional 29,433 shares and holding a total of 88,661 shares valued at $20.28 million.
• Waste Management reported a 19.0% increase in revenue year-over-year, with $6.43 billion in revenue for the last quarter and earnings per share of $1.92, exceeding analyst estimates.
• Recent analyst ratings show a consensus rating of "Moderate Buy" for Waste Management shares, with a price target averaging $254.32 following various adjustments from leading investment firms.

Apollon Wealth Management LLC grew its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 49.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,661 shares of the business services provider's stock after purchasing an additional 29,433 shares during the quarter. Apollon Wealth Management LLC's holdings in Waste Management were worth $20,287,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Zevenbergen Capital Investments LLC raised its holdings in Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider's stock worth $2,158,000 after purchasing an additional 2,200 shares during the last quarter. Empowered Funds LLC raised its holdings in Waste Management by 82.9% during the 1st quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider's stock worth $5,248,000 after purchasing an additional 10,272 shares during the last quarter. BROOKFIELD Corp ON raised its holdings in Waste Management by 25.1% during the 1st quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider's stock worth $4,661,000 after purchasing an additional 4,043 shares during the last quarter. Finally, Czech National Bank raised its holdings in Waste Management by 6.7% during the 2nd quarter. Czech National Bank now owns 89,510 shares of the business services provider's stock worth $20,482,000 after purchasing an additional 5,620 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM stock opened at $219.09 on Friday. The firm has a market capitalization of $88.26 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm has a fifty day simple moving average of $223.04 and a two-hundred day simple moving average of $227.98. 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.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data 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 firm 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 business's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis 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 Analysts Forecast Growth

Several analysts have recently weighed in on WM shares. Oppenheimer lowered their price objective on shares of Waste Management from $265.00 to $262.00 and set an "outperform" rating for the company in a research note on Wednesday. Stifel Nicolaus started coverage on shares of Waste Management in a research note on Tuesday, September 30th. They issued a "buy" rating and a $252.00 price objective for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Waste Management in a research note on Wednesday. Scotiabank lifted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Erste Group Bank lowered shares of Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Two 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.32.

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.

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