Waste Management, Inc. $WM Shares Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its holdings in Waste Management, Inc. by 82.9% during the first quarter, bringing its total ownership to approximately $5.25 million.
• Institutional investors collectively own 80.40% of Waste Management's stock, with several other firms also significantly increasing their positions during the same period.
• Waste Management reported earnings of $1.92 per share, surpassing estimates, and its quarterly revenue increased by 19.0% year-over-year, amounting to $6.43 billion.

Empowered Funds LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 82.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,670 shares of the business services provider's stock after purchasing an additional 10,272 shares during the quarter. Empowered Funds LLC's holdings in Waste Management were worth $5,248,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westend Capital Management LLC increased its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after purchasing an additional 66 shares in the last quarter. West Branch Capital LLC grew its position in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Saudi Central Bank acquired a new stake in Waste Management in the first quarter valued at approximately $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management in the first quarter valued at approximately $38,000. Finally, Adalta Capital Management LLC acquired a new stake in Waste Management in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WM. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Oppenheimer increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. UBS Group increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a research report on Monday, June 9th. Finally, Raymond James Financial raised their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Stock Performance

Shares of WM opened at $220.54 on Friday. The business's fifty day moving average price is $227.22 and its 200 day moving average price is $229.38. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The stock has a market capitalization of $88.84 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. 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 (NYSE:WM - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the business posted $1.82 earnings per share. The firm's revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is 48.96%.

Waste Management Company 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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