Focus Partners Wealth Has $45.49 Million Stock Position in Waste Management, Inc. $WM

Key Points

• Focus Partners Wealth increased its stake in Waste Management, Inc. by 1.3%, now holding 196,495 shares valued at $45.49 million.
• Waste Management reported a 19% year-over-year revenue increase to $6.43 billion and earnings per share of $1.92, surpassing analyst expectations.
• The company has declared a quarterly dividend of $0.825 per share, with a dividend yield of 1.5%, scheduled for payment on September 26th.

Focus Partners Wealth boosted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 196,495 shares of the business services provider's stock after purchasing an additional 2,519 shares during the period. Focus Partners Wealth's holdings in Waste Management were worth $45,491,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Westend Capital Management LLC lifted its stake in Waste Management by 126.9% in 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. West Branch Capital LLC lifted its stake in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Saudi Central Bank acquired a new stake in Waste Management in the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. bought a new position in Waste Management in the 1st quarter valued at about $38,000. Finally, Adalta Capital Management LLC bought a new position in Waste Management in the 4th quarter valued at about $40,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 0.7%

Shares of WM opened at $217.67 on Thursday. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The firm's 50 day moving average is $227.34 and its 200-day moving average is $229.45. The stock has a market capitalization of $87.68 billion, a PE ratio of 32.30, a P/E/G ratio of 2.69 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 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. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the firm earned $1.82 earnings per share. The business's revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio (DPR) is currently 48.96%.

Wall Street Analyst Weigh In

WM has been the topic of several research analyst reports. Scotiabank increased their price target on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a report on Thursday, June 26th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a report on Monday, June 9th. CIBC increased their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Finally, BMO Capital Markets increased their price target on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $254.35.

About Waste Management

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.

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.