Waste Management, Inc. $WM Shares Sold by Hartline Investment Corp

Key Points

• Hartline Investment Corp reduced its holdings in Waste Management, Inc. by 12.1%, now owning 11,703 shares worth approximately $2.68 million.
• Waste Management announced a quarterly dividend of $0.825 per share, resulting in an annualized dividend yield of 1.5%.
• Waste Management's latest quarterly earnings reported an EPS of $1.92, beating estimates and showing a 19% revenue increase year-over-year.

Hartline Investment Corp cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 12.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,703 shares of the business services provider's stock after selling 1,608 shares during the period. Hartline Investment Corp's holdings in Waste Management were worth $2,678,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. McAdam LLC increased its position in shares of Waste Management by 3.1% during the first quarter. McAdam LLC now owns 1,482 shares of the business services provider's stock worth $343,000 after purchasing an additional 44 shares in the last quarter. Stonebridge Financial Group LLC increased its position in shares of Waste Management by 3.0% during the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after purchasing an additional 45 shares in the last quarter. Formidable Asset Management LLC increased its position in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after purchasing an additional 45 shares in the last quarter. Harbour Trust & Investment Management Co increased its position in shares of Waste Management by 1.1% during the second quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider's stock worth $943,000 after purchasing an additional 45 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Waste Management by 3.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider's stock valued at $349,000 after acquiring an additional 46 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of WM opened at $215.59 on Friday. The business's 50-day moving average is $221.39 and its two-hundred day moving average is $227.47. The company has a market capitalization of $86.85 billion, a P/E ratio of 31.99, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced 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. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup cut their target price on Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. Oppenheimer cut their target price on Waste Management from $265.00 to $262.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 8th. National Bankshares cut their target price on Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Waste Management in a research report on Wednesday, October 8th. Finally, William Blair reissued an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

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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