Harrell Investment Partners LLC Buys Shares of 2,318 Waste Management, Inc. $WM

Key Points

• Harrell Investment Partners LLC acquired 2,318 shares of Waste Management, Inc. ($WM), valued at approximately $530,000, during the second quarter.
• Institutional investors collectively own 80.40% of Waste Management's stock, with significant stake increases reported from firms like Ameriprise Financial and UBS AM.
• Waste Management's latest earnings report showed a 19.0% year-over-year revenue increase, with a quarterly revenue of $6.43 billion and an EPS of $1.92, exceeding analysts' expectations.

Harrell Investment Partners LLC bought a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,318 shares of the business services provider's stock, valued at approximately $530,000.

Several other institutional investors have also added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its stake in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Waste Management by 1.8% during the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after buying an additional 70,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Waste Management by 26.9% during the 1st 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. Dimensional Fund Advisors LP lifted its holdings in shares of Waste Management by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after buying an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Waste Management by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after buying an additional 29,715 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

NYSE:WM opened at $219.48 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The business's 50-day simple moving average is $225.51 and its two-hundred day simple moving average is $228.56. The stock has a market cap of $88.41 billion, a PE ratio of 32.56, a P/E/G ratio of 2.67 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.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business's quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WM. Melius began coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating on the stock. CIBC increased their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Oppenheimer increased their price target on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, Raymond James Financial raised their target price on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $255.17.

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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