Centric Wealth Management Buys 2,414 Shares of Waste Management, Inc. $WM

Key Points

• Centric Wealth Management increased its stake in Waste Management, Inc. by 35.5%, owning shares worth $2.13 million as reported in their recent SEC filing.
• Wall Street analysts have a consensus rating of Moderate Buy for Waste Management, with an average target price of $254.35.
• Waste Management reported $1.92 earnings per share for the last quarter, exceeding estimates and reflecting a 19% increase in revenue compared to the previous year.

Centric Wealth Management boosted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 35.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,219 shares of the business services provider's stock after buying an additional 2,414 shares during the period. Centric Wealth Management's holdings in Waste Management were worth $2,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WM. Ascent Group LLC increased its stake in Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after purchasing an additional 44 shares in the last quarter. Insight Wealth Strategies LLC increased its stake in Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after purchasing an additional 44 shares in the last quarter. Stonebridge Financial Group LLC increased its stake in Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after purchasing an additional 45 shares in the last quarter. Formidable Asset Management LLC increased its stake in Waste Management by 2.0% in the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after purchasing an additional 45 shares in the last quarter. Finally, KRS Capital Management LLC increased its stake in Waste Management by 3.1% in the first quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider's stock valued at $358,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

WM has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research note on Tuesday, May 6th. CIBC lifted their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. National Bank Financial raised shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Finally, UBS Group boosted their target price on shares of Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Stock Performance

Shares of WM stock traded up $2.11 during trading on Monday, reaching $226.69. 1,527,535 shares of the company's stock traded hands, compared to its average volume of 1,640,870. The firm's 50-day moving average is $228.32 and its 200 day moving average is $229.80. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The company has a market capitalization of $91.32 billion, a P/E ratio of 33.63, a PEG ratio of 2.78 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 posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share 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 analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. Waste Management's revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

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.