Leo Wealth LLC Increases Stock Position in Waste Management, Inc. $WM

Key Points

• Leo Wealth LLC increased its stake in Waste Management, Inc. by 122.6%, holding a total of 2,090 shares valued at approximately $478,000.
• Various hedge funds have also ramped up their investments in Waste Management, with Ameriprise Financial increasing its position by 30.4% during the first quarter.
• The company announced a quarterly dividend of $0.825 per share, translating to an annual yield of 1.5%, with a current payout ratio of 48.96%.

Leo Wealth LLC lifted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 122.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,090 shares of the business services provider's stock after acquiring an additional 1,151 shares during the quarter. Leo Wealth LLC's holdings in Waste Management were worth $478,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WM. Ameriprise Financial Inc. lifted its position in shares of 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 buying an additional 1,239,996 shares in the last quarter. Northern Trust Corp lifted its holdings in Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after purchasing an additional 70,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Waste Management by 26.9% during the first 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 purchasing an additional 709,557 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Waste Management by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after purchasing an additional 36,836 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Waste Management by 1.4% during the first 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 purchasing an additional 29,715 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the topic of a number of research reports. Erste Group Bank lowered shares of Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Oppenheimer decreased their target price on Waste Management from $265.00 to $262.00 and set an "outperform" rating on the stock in a research report on Wednesday. Barclays decreased their price objective on Waste Management from $272.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday. Scotiabank raised 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, CIBC raised their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus price target of $254.32.

Waste Management Stock Down 1.1%

NYSE WM opened at $217.56 on Friday. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. 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 fifty day simple moving average is $223.24 and its 200-day simple moving average is $228.03. The firm has a market cap of $87.64 billion, a PE ratio of 32.28, a P/E/G ratio of 2.71 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. Waste Management's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.5%. Waste Management's payout ratio is currently 48.96%.

Waste Management Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.