Ritholtz Wealth Management Raises Holdings in Waste Management, Inc. $WM

Key Points

• Ritholtz Wealth Management increased its stake in Waste Management, Inc. by 9.7% in the second quarter, now holding 22,443 shares valued at approximately $5.13 million.
• Multiple institutional investors have also recently adjusted their positions in Waste Management, which is now owned by hedge funds and institutional investors to the tune of 80.40%.
• Waste Management announced a quarterly dividend of $0.825, resulting in an annualized dividend of $3.30 and a yield of 1.5%.

Ritholtz Wealth Management boosted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,443 shares of the business services provider's stock after purchasing an additional 1,986 shares during the period. Ritholtz Wealth Management's holdings in Waste Management were worth $5,135,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Sprott Inc. bought a new position in shares of Waste Management during the first quarter valued at about $325,000. GAMMA Investing LLC boosted its holdings in shares of Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after purchasing an additional 958 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Waste Management by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after purchasing an additional 24,023 shares during the last quarter. Finally, Keystone Wealth Services LLC purchased a new position in Waste Management during the 1st quarter valued at about $291,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

WM has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Waste Management in a report on Wednesday, October 8th. BMO Capital Markets raised their price target on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 30th. Erste Group Bank cut shares of Waste Management from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. Scotiabank upped their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, Barclays dropped their target price on shares of Waste Management from $272.00 to $271.00 and set an "overweight" rating for the company in a research report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $254.32.

Waste Management Stock Up 0.5%

NYSE:WM opened at $218.09 on Wednesday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The firm's 50-day moving average price is $222.54 and its 200-day moving average price is $227.82. The company has a market capitalization of $87.85 billion, a PE ratio of 32.36, a P/E/G ratio of 2.67 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations 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 last year, the company posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts predict 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. Investors of record on Friday, September 12th were paid a $0.825 dividend. The ex-dividend date was 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 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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