Clark Capital Management Group Inc. Boosts Position 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. grew its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 247,050 shares of the business services provider's stock after purchasing an additional 3,203 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.06% of Waste Management worth $57,194,000 as of its most recent filing with the Securities & Exchange Commission.

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

Waste Management Stock Performance

NYSE WM traded down $4.87 during trading hours on Friday, reaching $220.08. The stock had a trading volume of 2,110,690 shares, compared to its average volume of 1,680,656. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The stock has a fifty day moving average of $227.85 and a 200 day moving average of $229.66. The stock has a market cap of $88.65 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. The business's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.825 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WM shares. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. BMO Capital Markets raised their price target 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. National Bank Financial raised shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Melius assumed coverage on shares of Waste Management in a research note on Monday, June 9th. They set a "buy" rating for the company. Finally, UBS Group lifted their price objective on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.