Family Legacy Financial Solutions LLC Takes $1.55 Million Position in Waste Management, Inc. $WM

Key Points

• Family Legacy Financial Solutions LLC acquired a new position in Waste Management, Inc., purchasing 6,791 shares valued at approximately $1.55 million, making it the fund's 17th largest position.
• Waste Management reported Q2 earnings of $1.92 per share, exceeding analysts' expectations, with revenue of $6.43 billion, a year-over-year increase of 19%.
• The company declared a quarterly dividend of $0.825 per share, with an annualized dividend yield of 1.5%, set to be paid on September 26th.

Family Legacy Financial Solutions LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,791 shares of the business services provider's stock, valued at approximately $1,554,000. Waste Management comprises approximately 1.3% of Family Legacy Financial Solutions LLC's portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its holdings in Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. Northern Trust Corp boosted its position in shares of Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock worth $941,709,000 after buying an additional 70,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Waste Management by 26.9% during 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 valued at $774,000,000 after purchasing an additional 709,557 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Waste Management by 7.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock valued at $531,456,000 after purchasing an additional 177,398 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Waste Management by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after purchasing an additional 36,836 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WM shares. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a research report on Monday, June 9th. Oppenheimer raised their price objective on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Raymond James Financial lifted their price target on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.17.

Waste Management Trading Up 0.3%

WM traded up $0.74 during midday trading on Friday, hitting $216.66. 2,835,145 shares of the company were exchanged, compared to its average volume of 1,417,943. The firm has a market capitalization of $87.28 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.64 and a beta of 0.64. 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 $226.04 and its 200-day moving average price is $228.77. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51.

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, topping the consensus estimate of $1.89 by $0.03. The firm 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 business's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid 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.