Raab & Moskowitz Asset Management LLC Reduces Stock Position in Waste Management, Inc. $WM

Key Points

• Raab & Moskowitz Asset Management LLC has reduced its stock position in Waste Management, Inc. by 9.2%, holding 11,854 shares worth approximately $2.74 million after selling 1,202 shares in the first quarter.
• Several institutional investors have increased their holdings, with Ameriprise Financial Inc. raising its stake by 30.4% to own more than 5.3 million shares.
• Wall Street analysts have generally positive outlooks, with two analysts rating it a Strong Buy and a consensus average price target of $254.35.

Raab & Moskowitz Asset Management LLC cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 9.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,854 shares of the business services provider's stock after selling 1,202 shares during the quarter. Raab & Moskowitz Asset Management LLC's holdings in Waste Management were worth $2,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. Northern Trust Corp increased its holdings in Waste Management by 1.8% during the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock worth $941,709,000 after purchasing an additional 70,907 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Waste Management by 7.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock valued at $531,456,000 after acquiring an additional 177,398 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Waste Management by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after acquiring an additional 36,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Waste Management by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after acquiring an additional 29,715 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a report on Monday, June 9th. Raymond James Financial boosted their price target on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $225.00 to $277.00 in a report on Friday, May 23rd. Finally, Scotiabank boosted their price target on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Two equities 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.35.

Waste Management Price Performance

Shares of WM opened at $220.08 on Friday. The company has a market cap of $88.65 billion, a P/E ratio of 32.65, a PEG ratio of 2.70 and a beta of 0.64. The stock has a fifty day moving average price of $227.85 and a 200 day moving average price of $229.66. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

Waste Management Company 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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