Pure Financial Advisors LLC Boosts Stake in Waste Management, Inc. $WM

Key Points

• Pure Financial Advisors LLC increased its stake in Waste Management, Inc. by 129.4% during the second quarter, owning a total of 2,631 shares valued at approximately $602,000.
• Recent reports from analysts indicate a positive outlook for Waste Management, with several firms issuing buy ratings and increasing their price targets, including Oppenheimer raising it from $260.00 to $265.00.
• Waste Management's latest earnings report showed an EPS of $1.92, beating estimates and reflecting a 19.0% year-over-year revenue increase, with a current market capitalization of $88.53 billion.

Pure Financial Advisors LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 129.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,631 shares of the business services provider's stock after purchasing an additional 1,484 shares during the period. Pure Financial Advisors LLC's holdings in Waste Management were worth $602,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. McAdam LLC boosted its position in shares of Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider's stock worth $343,000 after purchasing an additional 44 shares during the period. Stonebridge Financial Group LLC grew its holdings in shares of Waste Management by 3.0% in the first 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 holdings in shares of Waste Management by 2.0% in the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after purchasing an additional 45 shares in the last quarter. KRS Capital Management LLC grew its holdings in shares of Waste Management by 3.1% in the first quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider's stock valued at $358,000 after purchasing an additional 46 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Waste Management by 3.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider's stock valued at $349,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Melius assumed coverage on shares of Waste Management in a report on Monday, June 9th. They issued a "buy" rating for the company. Stifel Nicolaus assumed coverage on shares of Waste Management in a report on Tuesday. They issued a "buy" rating and a $252.00 price objective for the company. Raymond James Financial lifted their price objective on shares of Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, Oppenheimer boosted their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of "Moderate Buy" and an average target price of $255.17.

Waste Management Trading Up 1.3%

NYSE WM opened at $219.77 on Friday. The stock has a market capitalization of $88.53 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. 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, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The firm has a 50 day moving average of $224.29 and a two-hundred day moving average of $228.25.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The firm 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%. The company's revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.7 EPS 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 given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management's dividend payout ratio (DPR) 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.

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