Northeast Investment Management Raises Stock Position in Waste Management, Inc. $WM

Key Points

• Northeast Investment Management increased its stake in Waste Management, Inc. (NYSE:WM) by 1.1%, now holding 134,309 shares worth approximately $30.73 million.
• During the last quarter, several institutional investors also adjusted their holdings, with Brighton Jones LLC boosting its stake by 51.1%.
• Waste Management recently declared a quarterly dividend of $0.825, reflecting an annualized yield of 1.5%, with a payout ratio of 48.96%.

Northeast Investment Management increased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,309 shares of the business services provider's stock after purchasing an additional 1,443 shares during the quarter. Waste Management accounts for 1.3% of Northeast Investment Management's portfolio, making the stock its 22nd largest position. Northeast Investment Management's holdings in Waste Management were worth $30,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WM. Brighton Jones LLC boosted its stake in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Sprott Inc. purchased a new position in shares of Waste Management during the 1st quarter worth $325,000. GAMMA Investing LLC boosted its stake in shares of Waste Management by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after acquiring an additional 958 shares during the last quarter. Premier Path Wealth Partners LLC boosted its stake in shares of Waste Management by 5.2% during the 1st quarter. Premier Path Wealth Partners LLC now owns 1,071 shares of the business services provider's stock worth $248,000 after acquiring an additional 53 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in shares of Waste Management by 9.3% during the 1st quarter. ORG Partners LLC now owns 680 shares of the business services provider's stock worth $159,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of NYSE WM opened at $215.59 on Friday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market cap of $86.85 billion, a P/E ratio of 31.99, a P/E/G ratio of 2.65 and a beta of 0.64. The firm's fifty day moving average is $221.39 and its two-hundred day moving average is $227.42. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58.

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 for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. Waste Management's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were 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 was Friday, September 12th. Waste Management's payout ratio is currently 48.96%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WM shares. Barclays dropped their price target on shares of Waste Management from $272.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, October 9th. Citigroup decreased their price objective on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. Raymond James Financial raised their price objective on shares of Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. CIBC raised their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Finally, BMO Capital Markets raised their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

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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