Destiny Wealth Partners LLC Takes Position in Waste Management, Inc. $WM

Key Points

• Destiny Wealth Partners LLC acquired 1,437 shares of Waste Management, valued at approximately $329,000, indicating growing interest from institutional investors.
• Brokerages have varied ratings on Waste Management, with Melius Research upgrading the stock to "strong-buy" and setting a target price of $263.00.
• Waste Management reported a 19% increase in revenue year-over-year, reaching $6.43 billion, and exceeded EPS expectations with $1.92 for the quarter.

Destiny Wealth Partners LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,437 shares of the business services provider's stock, valued at approximately $329,000.

Several other hedge funds have also bought and sold shares of the stock. Westend Capital Management LLC lifted its holdings 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 worth $27,000 after acquiring an additional 66 shares during the last quarter. West Branch Capital LLC lifted its holdings 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 during the last quarter. Saudi Central Bank bought a new position in shares of Waste Management during the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new position in Waste Management in the 1st quarter worth $38,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Waste Management during the first quarter valued at about $45,000. 80.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WM. Melius started coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Barclays started coverage on Waste Management in a research report on Friday, September 19th. They issued an "overweight" rating and a $272.00 price objective on the stock. Finally, Oppenheimer boosted their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $255.17.

Waste Management Stock Down 1.0%

NYSE:WM opened at $217.24 on Friday. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The firm's 50-day moving average price is $225.34 and its 200-day moving average price is $228.49. The company has a market capitalization of $87.51 billion, a PE ratio of 32.23, a P/E/G ratio of 2.68 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82.

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, topping the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion for 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 company's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts predict that Waste Management, Inc. will post 7.7 EPS 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. Investors of record on Friday, September 12th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's payout ratio is presently 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.

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