GC Wealth Management RIA LLC Purchases 1,872 Shares of Waste Management, Inc. $WM

Key Points

• GC Wealth Management RIA LLC boosted its stake in Waste Management, Inc. by 75.6% in the second quarter, now holding 4,348 shares valued at $995,000.
• After reporting $1.92 EPS for Q2, Waste Management exceeded analysts' expectations, and its quarterly revenue increased by 19% year-over-year.
• The company declared a quarterly dividend of $0.825, with an annualized yield of 1.5% and a current dividend payout ratio of 48.96%.

GC Wealth Management RIA LLC increased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 75.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,348 shares of the business services provider's stock after buying an additional 1,872 shares during the quarter. GC Wealth Management RIA LLC's holdings in Waste Management were worth $995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in WM. Nuveen LLC purchased a new stake in shares of Waste Management in the 1st quarter valued at $333,089,000. Ameriprise Financial Inc. lifted its stake 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 worth $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. 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 buying an additional 709,557 shares during the period. Voya Investment Management LLC grew its stake in shares of Waste Management by 738.2% during the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock valued at $175,766,000 after buying an additional 668,637 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Waste Management by 16,999.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider's stock worth $153,043,000 after buying an additional 657,194 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.2%

NYSE:WM opened at $219.24 on Tuesday. The company has a 50-day moving average price of $225.05 and a 200-day moving average price of $228.48. The stock has a market cap of $88.31 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 2.67 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, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $1.82 earnings per share. Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Oppenheimer raised their price target on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Erste Group Bank cut shares of Waste Management from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. Melius Research raised shares of 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. Citigroup dropped their price target on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. Finally, William Blair reaffirmed 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 given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $255.17.

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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