Clark Capital Management Group Inc. Has $57.19 Million Stake in Waste Management, Inc. $WM

Key Points

• Clark Capital Management Group Inc. increased its stake in Waste Management, Inc. by 1.3% in Q1, now owning 247,050 shares valued at approximately $57.2 million.
• Waste Management's dividend of $0.825 per share, representing an annualized yield of 1.5%, is set to be paid on September 26th.
• The company reported a net margin of 11.36% and a 19% revenue increase year-over-year for Q2, achieving $6.43 billion in revenue.

Clark Capital Management Group Inc. lifted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,050 shares of the business services provider's stock after acquiring an additional 3,203 shares during the quarter. Clark Capital Management Group Inc. owned 0.06% of Waste Management worth $57,194,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WM. Westend Capital Management LLC grew its position in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares in the last quarter. West Branch Capital LLC grew its position in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after acquiring an additional 49 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Waste Management in the 1st quarter worth approximately $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Waste Management in the 1st quarter worth approximately $38,000. Finally, Adalta Capital Management LLC acquired a new position in shares of Waste Management in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Price Performance

Shares of WM traded up $0.11 during mid-day trading on Tuesday, reaching $219.16. The company had a trading volume of 863,861 shares, compared to its average volume of 1,714,328. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. 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 $227.65 and its 200-day moving average is $229.60. The company has a market capitalization of $88.28 billion, a P/E ratio of 32.51, a P/E/G ratio of 2.70 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results 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 company 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 quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WM shares. Raymond James Financial lifted their target price on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. UBS Group boosted their price objective on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. BMO Capital Markets boosted their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a research report on Thursday, June 26th. Finally, CIBC upped their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and an average target price of $254.35.

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.