RFG Advisory LLC Reduces Stake in Waste Management, Inc. $WM

Key Points

• RFG Advisory LLC has reduced its stake in Waste Management, Inc. by 52.8%, bringing its holdings to 3,032 shares valued at approximately $694,000.
• Waste Management recently reported a 19% year-over-year increase in revenue, with a quarterly earnings per share (EPS) of $1.92, beating estimates by $0.03.
• The company declared a quarterly dividend of $0.825, resulting in an annualized dividend of $3.30 and a dividend yield of 1.5%.

RFG Advisory LLC reduced its position in Waste Management, Inc. (NYSE:WM - Free Report) by 52.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,032 shares of the business services provider's stock after selling 3,397 shares during the period. RFG Advisory LLC's holdings in Waste Management were worth $694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westend Capital Management LLC boosted its stake in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Waste Management in the 1st quarter worth $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management in the 1st quarter worth $38,000. New Age Alpha Advisors LLC purchased a new position in shares of Waste Management in the 1st quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider's stock worth $47,000 after buying an additional 160 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of Waste Management stock opened at $215.59 on Friday. The stock's 50-day simple moving average is $221.39 and its 200-day simple moving average is $227.47. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a market capitalization of $86.85 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.62 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 (NYSE:WM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The business's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on WM shares. CIBC lifted their target price on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Oppenheimer lowered their target price on Waste Management from $265.00 to $262.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 8th. Stifel Nicolaus started coverage on Waste Management in a research report on Tuesday, September 30th. They set a "buy" rating and a $252.00 target price on the stock. National Bankshares lowered their target price on Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 7th. Finally, Erste Group Bank downgraded Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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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