Waste Management, Inc. $WM Shares Bought by Franklin Street Advisors Inc. NC

Key Points

• Franklin Street Advisors Inc. NC increased its stake in Waste Management, Inc. by 28.0% during Q2, owning 5,642 shares valued at approximately $1.29 million.
• Waste Management reported quarterly earnings of $1.92 per share, exceeding expectations, with revenue of $6.43 billion, marking a 19.0% year-over-year increase.
• The company declared a quarterly dividend of $0.825 per share, reflecting an annualized dividend of $3.30 and a yield of 1.5%.

Franklin Street Advisors Inc. NC boosted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 28.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,642 shares of the business services provider's stock after buying an additional 1,235 shares during the period. Franklin Street Advisors Inc. NC's holdings in Waste Management were worth $1,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted 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 valued at $27,000 after purchasing an additional 66 shares during the last quarter. West Branch Capital LLC lifted its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Waste Management in the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Waste Management in the 1st quarter valued at $38,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Waste Management in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Price Performance

Shares of NYSE WM opened at $219.77 on Friday. The stock's 50-day moving average is $224.29 and its two-hundred day moving average is $228.25. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a market cap of $88.53 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64.

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 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 company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the business earned $1.82 EPS. Waste Management's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Analysts forecast 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. Shareholders of record on Friday, September 12th were issued a dividend of $0.825 per share. The ex-dividend date was Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend payout ratio is 48.96%.

Analysts Set New Price Targets

Several equities analysts have recently commented on WM shares. Melius started coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Scotiabank boosted their price objective on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Raymond James Financial boosted 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. Finally, CIBC boosted 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. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $255.17.

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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