Hamilton Point Investment Advisors LLC Cuts Holdings in Waste Management, Inc. $WM

Key Points

• Hamilton Point Investment Advisors LLC reduced its holdings in Waste Management, Inc. by 37.9% in the second quarter, now owning 23,799 shares worth approximately $5.45 million.
• Waste Management reported $1.92 earnings per share, exceeding consensus estimates, and a revenue of $6.43 billion, marking a 19% increase year-over-year.
• The company declared a quarterly dividend of $0.825 per share, with a current annualized yield of 1.5% and a payout ratio of 48.96%.

Hamilton Point Investment Advisors LLC trimmed its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 37.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,799 shares of the business services provider's stock after selling 14,536 shares during the quarter. Hamilton Point Investment Advisors LLC's holdings in Waste Management were worth $5,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. 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 worth $27,000 after purchasing an additional 66 shares in the last quarter. Saudi Central Bank purchased a new stake in Waste Management in the 1st quarter worth approximately $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management in the 1st quarter worth approximately $38,000. New Age Alpha Advisors LLC purchased a new stake in Waste Management in the 1st quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Waste Management by 381.0% in the 1st 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 in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Down 0.9%

Shares of Waste Management stock opened at $217.17 on Tuesday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market capitalization of $87.48 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a 50-day simple moving average of $222.78 and a two-hundred day simple moving average of $227.89.

Waste Management (NYSE:WM - Get Free Report) last announced its 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. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business 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 (DPR) is currently 48.96%.

Analyst Ratings Changes

A number of equities analysts have recently commented on WM shares. Citigroup decreased their price target on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. BMO Capital Markets increased their target price 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. National Bankshares reduced their target price on shares of Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Waste Management in a report on Wednesday, October 8th. Finally, Erste Group Bank lowered shares of Waste Management from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.32.

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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