Lewis Asset Management LLC Invests $508,000 in Waste Management, Inc. $WM

Key Points

• Lewis Asset Management LLC invested $508,000 in Waste Management, acquiring 2,221 shares, signaling confidence in the company's future performance.
• Significant increases in holdings were observed, with Brighton Jones LLC raising its stake by 51.1% and Empowered Funds LLC by 82.9%, highlighting institutional interest in Waste Management.
• Waste Management reported a 19% revenue increase year-over-year and announced a quarterly dividend of $0.825 per share, demonstrating strong financial health and commitment to returning value to shareholders.

Lewis Asset Management LLC acquired a new position in Waste Management, Inc. (NYSE:WM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,221 shares of the business services provider's stock, valued at approximately $508,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after buying an additional 2,320 shares in the last quarter. Empowered Funds LLC raised its position in shares of Waste Management by 82.9% during the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider's stock worth $5,248,000 after purchasing an additional 10,272 shares during the period. Zevenbergen Capital Investments LLC raised its position in shares of Waste Management by 30.4% during the second quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider's stock worth $2,158,000 after purchasing an additional 2,200 shares during the period. BROOKFIELD Corp ON raised its position in shares of Waste Management by 25.1% during the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider's stock worth $4,661,000 after purchasing an additional 4,043 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after purchasing an additional 232 shares during the period. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

NYSE WM opened at $216.66 on Monday. The stock has a 50-day simple moving average of $226.04 and a 200 day simple moving average of $228.78. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The stock has a market capitalization of $87.28 billion, a PE ratio of 32.15, a P/E/G ratio of 2.65 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

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 for the quarter, beating 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 firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company earned $1.82 EPS. The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend payout ratio is presently 48.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Melius assumed coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. National Bank Financial raised Waste Management to a "hold" rating in a research report on Monday, May 26th. Finally, Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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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