Waste Management, Inc. $WM Shares Purchased by Simplicity Wealth LLC

Key Points

• Simplicity Wealth LLC increased its stake in Waste Management, Inc. by 119.5%, owning 12,737 shares valued at approximately $2.9 million.
• Waste Management reported a 19.0% year-over-year increase in revenue for the quarter, reaching $6.43 billion, and beat earnings estimates with $1.92 earnings per share.
• The company has a current dividend yield of 1.5%, with an annualized dividend of $3.30 per share.

Simplicity Wealth LLC lifted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 119.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,737 shares of the business services provider's stock after acquiring an additional 6,933 shares during the quarter. Simplicity Wealth LLC's holdings in Waste Management were worth $2,915,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC raised its holdings in Waste Management by 0.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 21,314 shares of the business services provider's stock worth $4,877,000 after purchasing an additional 134 shares during the period. Clarius Group LLC increased its position in shares of Waste Management by 14.8% in the second quarter. Clarius Group LLC now owns 3,905 shares of the business services provider's stock valued at $894,000 after buying an additional 503 shares in the last quarter. LGT Fund Management Co Ltd. raised its stake in shares of Waste Management by 30.1% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 26,607 shares of the business services provider's stock worth $6,088,000 after buying an additional 6,154 shares during the period. Apexium Financial LP lifted its position in shares of Waste Management by 5.9% during the 2nd quarter. Apexium Financial LP now owns 951 shares of the business services provider's stock valued at $218,000 after buying an additional 53 shares in the last quarter. Finally, Quent Capital LLC grew its stake in Waste Management by 13.3% in the 2nd quarter. Quent Capital LLC now owns 1,284 shares of the business services provider's stock valued at $294,000 after acquiring an additional 151 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 1.3%

WM opened at $219.77 on Monday. The firm has a market cap of $88.53 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The business's 50 day moving average is $224.29 and its two-hundred day moving average is $228.27. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week 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 business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup decreased their price target on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. Stifel Nicolaus initiated coverage on shares of Waste Management in a research report on Tuesday, September 30th. They set a "buy" rating and a $252.00 price objective for the company. Melius assumed coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Scotiabank increased their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and a consensus target price of $255.17.

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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