Sitrin Capital Management LLC Lowers Stock Holdings in Waste Management, Inc. $WM

Sitrin Capital Management LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 12.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,370 shares of the business services provider's stock after selling 3,909 shares during the period. Waste Management accounts for 3.3% of Sitrin Capital Management LLC's holdings, making the stock its 14th biggest position. Sitrin Capital Management LLC's holdings in Waste Management were worth $6,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. McAdam LLC lifted 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 buying an additional 44 shares during the last quarter. Stonebridge Financial Group LLC lifted its position in shares of Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after buying an additional 45 shares during the last quarter. Formidable Asset Management LLC lifted its position in shares of Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after buying an additional 45 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Waste Management by 3.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider's stock valued at $349,000 after acquiring an additional 46 shares during the period. Finally, Tandem Capital Management Corp ADV increased its holdings in shares of Waste Management by 0.7% in the 1st quarter. Tandem Capital Management Corp ADV now owns 6,614 shares of the business services provider's stock valued at $1,531,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

NYSE:WM opened at $220.00 on Thursday. The firm has a market cap of $88.62 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The company's 50-day moving average is $223.47 and its two-hundred day moving average is $228.09. 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 released its 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 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%. The firm's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Wall Street Analyst Weigh In

WM has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. Scotiabank lifted their target price on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Stifel Nicolaus initiated coverage on shares of Waste Management in a report on Tuesday, September 30th. They issued a "buy" rating and a $252.00 target price on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. Finally, Raymond James Financial boosted their price objective on shares of Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and an average price target of $254.37.

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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