GLOBALT Investments LLC GA Has $9.11 Million Position in Waste Management, Inc. $WM

Key Points

• GLOBALT Investments LLC reduced its holdings in Waste Management, Inc. by 4.4%, owning 39,793 shares worth approximately $9.11 million after selling 1,835 shares in the second quarter.
• Analyst presentations reflect a range of ratings for Waste Management, with a current average rating of "Moderate Buy" and a price target of $253.
• Waste Management declared a quarterly dividend of $0.825 per share, resulting in an annualized dividend of $3.30 and a yield of 1.5%.

GLOBALT Investments LLC GA trimmed its position in Waste Management, Inc. (NYSE:WM - Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,793 shares of the business services provider's stock after selling 1,835 shares during the quarter. GLOBALT Investments LLC GA's holdings in Waste Management were worth $9,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC grew its stake in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. Saudi Central Bank acquired a new stake in Waste Management in the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. bought a new stake in Waste Management in the 1st quarter valued at about $38,000. New Age Alpha Advisors LLC acquired a new position in shares of Waste Management during the 1st quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Waste Management by 381.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider's stock worth $47,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WM shares. Royal Bank Of Canada reissued a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Stifel Nicolaus assumed coverage on shares of Waste Management in a research note on Tuesday, September 30th. They set a "buy" rating and a $252.00 price objective on the stock. Citigroup dropped their target price 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. William Blair reiterated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Finally, Erste Group Bank downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average price target of $253.00.

Waste Management Price Performance

WM stock opened at $216.10 on Friday. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market cap of $87.05 billion, a price-to-earnings ratio of 32.06, a P/E/G ratio of 2.67 and a beta of 0.64. The company has a 50 day simple moving average of $220.13 and a 200 day simple moving average of $227.09.

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, 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 during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the business earned $1.82 earnings per share. The company's revenue for the quarter was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

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

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.

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