Phoenix Financial Ltd. Has $1.07 Million Stock Holdings in Waste Management, Inc. $WM

Key Points

• Phoenix Financial Ltd. has significantly increased its stake in Waste Management, Inc. by 158.9%, owning shares valued at approximately $1.07 million as of the latest SEC filing.
• Recent research reports show mixed sentiments among analysts, with some decreasing price targets while others maintain a positive outlook, leading to an average price target of $253.00.
• Waste Management declared a quarterly dividend of $0.825 per share, reflecting a 1.5% yield, and has a current dividend payout ratio of 48.96%.

Phoenix Financial Ltd. increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 158.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,657 shares of the business services provider's stock after purchasing an additional 2,858 shares during the quarter. Phoenix Financial Ltd.'s holdings in Waste Management were worth $1,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WM. Brighton Jones LLC increased its position in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after acquiring an additional 2,320 shares during the period. Sprott Inc. acquired a new position in Waste Management in the 1st quarter valued at approximately $325,000. GAMMA Investing LLC increased its position in Waste Management by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after acquiring an additional 958 shares during the period. JFS Wealth Advisors LLC increased its position in Waste Management by 58.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 579 shares of the business services provider's stock valued at $134,000 after acquiring an additional 214 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Waste Management by 7.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 205,144 shares of the business services provider's stock valued at $47,493,000 after acquiring an additional 13,529 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WM has been the subject of several recent research reports. UBS Group decreased their price target on shares of Waste Management from $265.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, October 16th. National Bankshares reduced their price objective on shares of Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 7th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Oppenheimer reduced their price objective on shares of Waste Management from $265.00 to $262.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 8th. Finally, Scotiabank upped their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $253.00.

Waste Management Stock Down 0.3%

Shares of NYSE WM opened at $214.73 on Wednesday. The firm has a market cap of $86.50 billion, a PE ratio of 31.86, a P/E/G ratio of 2.65 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company's fifty day simple moving average is $220.60 and its 200 day simple moving average is $227.20. 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 issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates 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 was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

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