Waste Management, Inc. $WM Holdings Lifted by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP increased its stake in Waste Management, Inc. by 107% in Q1, owning 84,568 shares valued at approximately $19.58 million.
• Several analysts have revised their target prices for Waste Management, with estimates now ranging from $250.00 to $277.00, reflecting a general consensus of a "Moderate Buy" rating.
• Waste Management announced a quarterly dividend of $0.825 per share, equating to an annualized yield of 1.5%, scheduled for payment on September 26th.

Concentric Capital Strategies LP grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 107.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,568 shares of the business services provider's stock after acquiring an additional 43,710 shares during the period. Waste Management comprises 1.8% of Concentric Capital Strategies LP's portfolio, making the stock its 9th largest holding. Concentric Capital Strategies LP's holdings in Waste Management were worth $19,578,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in WM. Westend Capital Management LLC boosted its holdings in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares in the last quarter. West Branch Capital LLC boosted its holdings in Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares in the last quarter. Saudi Central Bank purchased a new stake in Waste Management during the first quarter worth about $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management during the first quarter worth about $38,000. Finally, Adalta Capital Management LLC purchased a new stake in Waste Management during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WM. Raymond James Financial boosted their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a research report on Thursday, June 26th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. Scotiabank lifted their target price on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Finally, Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a research report on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Trading Down 2.2%

Shares of NYSE:WM traded down $4.87 during trading 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 business has a fifty day moving average price of $227.85 and a 200-day moving average price of $229.66. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The stock has a market cap of $88.65 billion, a P/E ratio of 32.65, a PEG ratio of 2.70 and a beta of 0.64. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week 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 for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion during 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%. The company's revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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