Denali Advisors LLC Buys 7,577 Shares of Waste Management, Inc. $WM

Key Points

• Denali Advisors LLC has increased its stake in Waste Management, Inc. by 31.2%, acquiring an additional 7,577 shares, bringing its total holdings to 31,868 shares.
• Waste Management reported a 19.0% year-over-year increase in revenue, totaling $6.43 billion for the recent quarter, alongside an EPS of $1.92, beating expectations.
• The company has recently announced a quarterly dividend of $0.825 per share, yielding approximately 1.5%, with a payout ratio of 48.96%.

Denali Advisors LLC raised its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 31.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,868 shares of the business services provider's stock after acquiring an additional 7,577 shares during the period. Waste Management comprises approximately 0.8% of Denali Advisors LLC's investment portfolio, making the stock its 26th largest holding. Denali Advisors LLC's holdings in Waste Management were worth $7,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large 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. Saudi Central Bank purchased a new stake in Waste Management in the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management in the 1st quarter worth about $38,000. New Age Alpha Advisors LLC purchased a new position in Waste Management during the 1st quarter valued at about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in Waste Management by 381.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider's stock valued at $47,000 after buying an additional 160 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of WM stock opened at $214.73 on Wednesday. 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 company has a market capitalization of $86.50 billion, a P/E ratio of 31.86, a PEG ratio of 2.65 and a beta of 0.64. The stock has a 50 day moving average price of $220.60 and a two-hundred day moving average price of $227.20. 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 announced its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Scotiabank lifted their target price on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Barclays dropped their target price on Waste Management from $272.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, October 9th. National Bankshares dropped their target price on Waste Management from $250.00 to $243.00 and set a "sector perform" rating for the company in a research report on Tuesday, October 7th. Oppenheimer dropped their target price on Waste Management from $265.00 to $262.00 and set an "outperform" rating for the company in a research report on Wednesday, October 8th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

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.

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