Friedenthal Financial Takes $957,000 Position in Waste Management, Inc. $WM

Key Points

• Friedenthal Financial has acquired a new stake in Waste Management, Inc. worth approximately $957,000 by purchasing 4,184 shares in the second quarter.
• Waste Management reported a 19.0% increase in quarterly revenue compared to the same period last year, with earnings per share of $1.92, exceeding estimates.
• The company has recently announced a quarterly dividend of $0.825 per share, resulting in an annualized yield of 1.5%.

Friedenthal Financial purchased a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,184 shares of the business services provider's stock, valued at approximately $957,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westend Capital Management LLC raised its stake in shares of Waste Management by 126.9% during the first 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 in the last quarter. West Branch Capital LLC raised its stake in shares of Waste Management by 69.0% during the first 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 in the last quarter. Saudi Central Bank bought a new stake in shares of Waste Management during the first quarter valued at about $37,000. GKV Capital Management Co. Inc. bought a new stake in shares of Waste Management during the first quarter valued at about $38,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Waste Management during the first quarter valued at about $45,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

NYSE WM opened at $217.54 on Wednesday. The stock's 50-day moving average price is $223.72 and its two-hundred day moving average price is $228.15. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The company has a market cap of $87.63 billion, a PE ratio of 32.28, a PEG ratio of 2.66 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.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (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 revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WM. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Scotiabank boosted their price target on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a "buy (b)" rating on shares of Waste Management in a research report on Saturday, September 27th. CIBC boosted their price target on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $254.53.

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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