Consolidated Planning Corp Boosts Stake in Waste Management, Inc. $WM

Key Points

• Consolidated Planning Corp significantly increased its stake in Waste Management, Inc. by 2,285%, owning 25,186 shares valued at approximately $5.76 million after purchasing 24,130 additional shares in Q2.
• Waste Management recently reported an earnings per share (EPS) of $1.92 for the last quarter, exceeding analyst expectations, with a year-over-year revenue increase of 19% to $6.43 billion.
• The company announced a quarterly dividend of $0.825 per share, with a 1.5% annualized yield, and maintains a dividend payout ratio of 48.96%.

Consolidated Planning Corp raised its position in Waste Management, Inc. (NYSE:WM - Free Report) by 2,285.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,186 shares of the business services provider's stock after purchasing an additional 24,130 shares during the quarter. Consolidated Planning Corp's holdings in Waste Management were worth $5,763,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WM. Nuveen LLC acquired a new position in shares of Waste Management during the 1st quarter valued at $333,089,000. Ameriprise Financial Inc. lifted its stake in shares of Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Waste Management by 26.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock worth $774,000,000 after buying an additional 709,557 shares during the period. Voya Investment Management LLC grew its stake in shares of Waste Management by 738.2% in the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock valued at $175,766,000 after buying an additional 668,637 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Waste Management by 16,999.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider's stock valued at $153,043,000 after buying an additional 657,194 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 0.3%

Shares of WM stock opened at $220.10 on Thursday. 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 stock has a market cap of $88.66 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. The business's fifty day moving average is $224.77 and its 200-day moving average is $228.37. 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 released its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate 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 business'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. Equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management's dividend payout ratio (DPR) is 48.96%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a research note on Monday, June 9th. Oppenheimer boosted their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Erste Group Bank downgraded Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Finally, CIBC boosted their price target on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and a consensus target price of $255.17.

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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.