Knights of Columbus Asset Advisors LLC Boosts Stake in Waste Management, Inc. $WM

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Waste Management, Inc. by 9.8% in the second quarter, holding 60,158 shares valued at approximately $13.77 million.
• Waste Management reported a 19% year-over-year revenue growth of $6.43 billion for the last quarter, with earnings per share of $1.92, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.825 per share, equivalent to an annual yield of 1.5%, with a payout ratio of 48.96%.

Knights of Columbus Asset Advisors LLC grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,158 shares of the business services provider's stock after acquiring an additional 5,346 shares during the quarter. Waste Management comprises about 0.8% of Knights of Columbus Asset Advisors LLC's portfolio, making the stock its 26th biggest position. Knights of Columbus Asset Advisors LLC's holdings in Waste Management were worth $13,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its position in shares of Waste Management by 46.5% during the second quarter. DAVENPORT & Co LLC now owns 52,754 shares of the business services provider's stock valued at $12,071,000 after buying an additional 16,750 shares during the last quarter. JSF Financial LLC lifted its position in Waste Management by 10.8% during the second quarter. JSF Financial LLC now owns 5,229 shares of the business services provider's stock valued at $1,196,000 after acquiring an additional 509 shares during the last quarter. IVC Wealth Advisors LLC boosted its stake in Waste Management by 1.6% in the second quarter. IVC Wealth Advisors LLC now owns 4,689 shares of the business services provider's stock valued at $1,073,000 after acquiring an additional 75 shares in the last quarter. Marietta Wealth Management LLC grew its holdings in Waste Management by 1.1% in the second quarter. Marietta Wealth Management LLC now owns 34,761 shares of the business services provider's stock worth $7,954,000 after purchasing an additional 390 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in Waste Management by 119.5% during the 2nd quarter. Simplicity Wealth LLC now owns 12,737 shares of the business services provider's stock valued at $2,915,000 after buying an additional 6,933 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Up 1.3%

Shares of WM opened at $219.77 on Monday. The company has a market capitalization of $88.53 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.68 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 stock's 50-day moving average price is $224.29 and its 200-day moving average price is $228.27. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51.

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 analysts' consensus estimates of $1.89 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.Waste Management's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts predict 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 dividend of $0.825 per share. The ex-dividend date was 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 is currently 48.96%.

Analysts Set New Price Targets

A number of brokerages have issued reports on WM. Stifel Nicolaus started coverage on shares of Waste Management in a research note on Tuesday, September 30th. They set a "buy" rating and a $252.00 price target on the stock. UBS Group upped their target price on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Scotiabank increased their price objective on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Waste Management in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus price target 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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