Waste Management, Inc. $WM Shares Acquired by Mainstay Capital Management LLC ADV

Key Points

• Mainstay Capital Management LLC increased its holding in Waste Management shares by 111.6% during the second quarter, totaling 17,110 shares worth approximately $3.915 million.
• Waste Management reported earnings of $1.92 per share, exceeding analysts' expectations, with quarterly revenue increasing by 19.0% year-over-year to $6.43 billion.
• The company recently announced a quarterly dividend of $0.825 per share, representing an annualized dividend of $3.30 and a yield of 1.5%.

Mainstay Capital Management LLC ADV increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 111.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,110 shares of the business services provider's stock after purchasing an additional 9,023 shares during the quarter. Mainstay Capital Management LLC ADV's holdings in Waste Management were worth $3,915,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of WM. Brighton Jones LLC raised its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Zevenbergen Capital Investments LLC raised its position in shares of Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider's stock worth $2,158,000 after purchasing an additional 2,200 shares during the last quarter. Empowered Funds LLC grew its holdings in Waste Management by 82.9% during the 1st quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider's stock valued at $5,248,000 after buying an additional 10,272 shares during the last quarter. BROOKFIELD Corp ON increased its position in Waste Management by 25.1% during the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider's stock worth $4,661,000 after buying an additional 4,043 shares in the last quarter. Finally, Czech National Bank lifted its position in shares of Waste Management by 6.7% in the second quarter. Czech National Bank now owns 89,510 shares of the business services provider's stock valued at $20,482,000 after acquiring an additional 5,620 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Waste Management stock opened at $220.00 on Thursday. 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 fifty day moving average price is $223.47 and its 200 day moving average price is $228.09. The company has a market capitalization 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. 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 for the quarter, beating analysts' consensus estimates 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 analyst estimates of $6.37 billion. During the same quarter last year, the firm earned $1.82 EPS. Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on WM shares. Erste Group Bank downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Citigroup decreased their target price on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Waste Management in a research report on Wednesday. BMO Capital Markets upped 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. Finally, Stifel Nicolaus assumed coverage on Waste Management in a research note on Tuesday, September 30th. They issued a "buy" rating and a $252.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Waste Management has an average rating of "Moderate Buy" and an average target price of $254.37.

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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