Janney Montgomery Scott LLC Acquires 2,675 Shares of Waste Management, Inc. $WM

Key Points

• Janney Montgomery Scott LLC acquired an additional 2,675 shares of Waste Management, Inc., increasing its holdings by 1.1% in the second quarter, totaling approximately $58.1 million in value.
• Waste Management reported a 19.0% year-over-year revenue increase with earnings per share surpassing expectations, at $1.92 compared to the consensus estimate of $1.89.
• The company declared a quarterly dividend of $0.825, reflecting a yield of 1.5%, with a dividend payout ratio of 48.96%.

Janney Montgomery Scott LLC increased its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,923 shares of the business services provider's stock after acquiring an additional 2,675 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Waste Management worth $58,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Westend Capital Management LLC boosted its position in shares of 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. West Branch Capital LLC raised its stake in 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 buying an additional 49 shares during the last quarter. Saudi Central Bank bought a new stake in Waste Management in the first quarter worth $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management during the first quarter valued at $38,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Waste Management in the 1st quarter worth about $45,000. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM opened at $220.85 on Wednesday. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The business has a fifty day moving average of $224.93 and a 200 day moving average of $228.43. 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 firm has a market capitalization of $88.97 billion, a P/E ratio of 32.77, a PEG ratio of 2.68 and a beta of 0.64.

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, topping the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the firm posted $1.82 earnings per share. The business's revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WM. Barclays began coverage on shares of Waste Management in a research note on Friday, September 19th. They set an "overweight" rating and a $272.00 price objective for the company. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a report on Monday, June 9th. BMO Capital Markets increased their target price on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. UBS Group upped their price target on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Melius initiated coverage on Waste Management in a report on Monday, June 9th. They issued a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given 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 $255.17.

Waste Management 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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