Bleakley Financial Group LLC Lowers Stake in Waste Management, Inc. $WM

Key Points

• Bleakley Financial Group LLC reduced its stake in Waste Management, Inc. by 23.6% in Q2, holding 12,605 shares valued at approximately $2.88 million as of the latest filing.
• Waste Management recently reported quarterly earnings with an EPS of $1.92, surpassing estimates of $1.89, and declared a quarterly dividend of $0.825 per share.
• The stock has exhibited a 1-year low of $199.69 and a high of $242.58, with a current market cap of $86.43 billion.

Bleakley Financial Group LLC lessened its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 23.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,605 shares of the business services provider's stock after selling 3,893 shares during the period. Bleakley Financial Group LLC's holdings in Waste Management were worth $2,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WM. McAdam LLC raised its position in shares of Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider's stock worth $343,000 after purchasing an additional 44 shares during the period. Syntegra Private Wealth Group LLC raised its position in shares of Waste Management by 2.0% during the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider's stock worth $524,000 after purchasing an additional 44 shares during the period. Stonebridge Financial Group LLC raised its position in shares of Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after purchasing an additional 45 shares during the period. Formidable Asset Management LLC grew its holdings in Waste Management by 2.0% in the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after buying an additional 45 shares in the last quarter. Finally, Harbour Trust & Investment Management Co grew its holdings in Waste Management by 1.1% in the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider's stock worth $943,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. Weiss Ratings reissued a "buy (b)" rating on shares of Waste Management in a report on Friday. National Bankshares decreased their price objective on Waste Management from $250.00 to $243.00 and set a "sector perform" rating for the company in a report on Tuesday, October 7th. Finally, Scotiabank increased their price objective on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

Waste Management Stock Performance

Shares of NYSE WM opened at $214.56 on Friday. The stock has a fifty day moving average price of $219.89 and a two-hundred day moving average price of $227.08. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $86.43 billion, a P/E ratio of 31.83, a PEG ratio of 2.66 and a beta of 0.64. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58.

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

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio (DPR) is currently 48.96%.

Waste Management 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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