Titleist Asset Management LLC Lowers Stock Position in Waste Management, Inc. $WM

Key Points

• Titleist Asset Management LLC reduced its stake in Waste Management, Inc. by 62.4%, selling 16,160 shares during the first quarter, bringing its holdings down to 9,750 shares valued at approximately $2.26 million.
• Analysts have recently increased price targets for Waste Management, with JPMorgan Chase raising it from $225.00 to $277.00 and CIBC setting a new target at $250.00.
• The company reported a quarterly EPS of $1.92, exceeding estimates, and announced a quarterly dividend of $0.825 to be paid on September 26th.

Titleist Asset Management LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 62.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,750 shares of the business services provider's stock after selling 16,160 shares during the quarter. Titleist Asset Management LLC's holdings in Waste Management were worth $2,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WM. Westend Capital Management LLC grew its holdings in shares of Waste Management by 126.9% during the first 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. West Branch Capital LLC grew its holdings in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in Waste Management in the 1st quarter valued at approximately $38,000. Adalta Capital Management LLC purchased a new stake in Waste Management in the 4th quarter valued at approximately $40,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Waste Management in the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Shares of NYSE:WM traded up $2.11 during trading on Monday, hitting $226.69. 1,527,535 shares of the stock were exchanged, compared to its average volume of 1,640,870. The company has a fifty day moving average price of $228.32 and a two-hundred day moving average price of $229.80. The company has a market cap of $91.32 billion, a PE ratio of 33.63, a P/E/G ratio of 2.78 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. 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm posted $1.82 EPS. The company's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WM shares. CIBC lifted their price objective on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Raymond James Financial lifted their price objective on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Oppenheimer lifted their price objective on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, UBS Group lifted their price objective on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

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.