Waste Management, Inc. $WM Position Increased by Balboa Wealth Partners

Balboa Wealth Partners increased its position in shares of Waste Management, Inc. (NYSE:WM) by 59.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,957 shares of the business services provider’s stock after acquiring an additional 726 shares during the period. Balboa Wealth Partners’ holdings in Waste Management were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Westend Capital Management LLC raised its holdings in Waste Management by 126.9% during the first 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 in the last quarter. Saudi Central Bank bought a new position in Waste Management during the first quarter valued at about $37,000. GKV Capital Management Co. Inc. bought a new position in Waste Management during the first quarter valued at about $38,000. New Age Alpha Advisors LLC bought a new position in Waste Management during the first quarter valued at about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Waste Management by 381.0% during the first 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 in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WM has been the topic of several recent research reports. CIBC raised their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, June 26th. Oppenheimer cut their target price on Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Citigroup lowered their price target 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. UBS Group lowered their price target on Waste Management from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Finally, Raymond James Financial raised their price target on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

Waste Management Stock Up 0.0%

WM stock opened at $215.50 on Tuesday. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a market cap of $86.81 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. The business’s 50-day simple moving average is $220.96 and its 200 day simple moving average is $227.28. 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 (NYSE:WM) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the business earned $1.82 earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. 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.