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

Alta Capital Management LLC increased its holdings in Waste Management, Inc. (NYSE:WM) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,900 shares of the business services provider’s stock after buying an additional 327 shares during the period. Alta Capital Management LLC’s holdings in Waste Management were worth $9,130,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westend Capital Management LLC boosted its holdings 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 buying an additional 66 shares during the period. Saudi Central Bank acquired a new position in shares of Waste Management in the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Waste Management in the 1st quarter valued at about $38,000. New Age Alpha Advisors LLC acquired a new position in shares of Waste Management in the 1st quarter valued at about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after buying an additional 160 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WM shares. CIBC lifted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Raymond James Financial lifted their price objective on shares of Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. BMO Capital Markets lifted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a research report on Wednesday, October 8th. Finally, Scotiabank lifted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $254.32.

Waste Management Stock Performance

Shares of WM opened at $213.79 on Thursday. The firm’s 50 day moving average is $222.19 and its 200-day moving average is $227.72. The stock has a market capitalization of $86.12 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.68 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, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.

Waste Management (NYSE:WM) 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. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal 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 given a $0.825 dividend. 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 (DPR) is 48.96%.

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.