Waste Management, Inc. $WM Stock Position Boosted by MAI Capital Management

Key Points

• MAI Capital Management increased its stake in Waste Management, Inc. by 22.0%, holding 96,868 shares valued at approximately $22.43 million as of the end of the last quarter.
• Several institutional investors have made significant movements in their holdings of Waste Management, with notable increases including a 26,095.2% surge by GAMMA Investing LLC, now holding over 1.9 million shares.
• Waste Management announced a quarterly dividend of $0.825, which will be paid on September 26th, reflecting an annualized amount of $3.30 and a yield of 1.5%.

MAI Capital Management lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,868 shares of the business services provider's stock after purchasing an additional 17,468 shares during the period. MAI Capital Management's holdings in Waste Management were worth $22,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ascent Group LLC grew its stake in Waste Management by 0.6% during the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after purchasing an additional 44 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in Waste Management by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after purchasing an additional 44 shares in the last quarter. Stonebridge Financial Group LLC grew its stake in Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after purchasing an additional 45 shares in the last quarter. Formidable Asset Management LLC grew its position in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after buying an additional 45 shares in the last quarter. Finally, KRS Capital Management LLC grew its position in shares of Waste Management by 3.1% during the first quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider's stock worth $358,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. William Blair reissued an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Oppenheimer lifted their price target on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. UBS Group lifted their price target on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Melius assumed coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Stock Performance

NYSE WM traded down $0.69 on Tuesday, hitting $225.70. The stock had a trading volume of 2,548,369 shares, compared to its average volume of 1,570,426. Waste Management, Inc. has a one year low of $199.69 and a one year 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 stock has a market cap of $90.92 billion, a price-to-earnings ratio of 33.49, a P/E/G ratio of 2.78 and a beta of 0.64. The company's 50-day moving average is $228.14 and its two-hundred day moving average is $229.77.

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

Waste Management Dividend Announcement

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

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.