Asset Advisors Investment Management LLC Reduces Position in Waste Management, Inc. $WM

Asset Advisors Investment Management LLC cut its position in Waste Management, Inc. (NYSE:WM) by 3.6% during the second quarter, HoldingsChannel reports. The firm owned 31,942 shares of the business services provider’s stock after selling 1,190 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in Waste Management were worth $7,309,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Westend Capital Management LLC increased its position 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 purchasing an additional 66 shares during the last quarter. West Branch Capital LLC grew its position in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares during the last quarter. Saudi Central Bank purchased a new position in shares of Waste Management in the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management in the 1st quarter valued at $38,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Waste Management in the 1st quarter valued at $45,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Waste Management in a research report on Tuesday. They issued a “buy” rating and a $252.00 target price on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $229.00 target price on shares of Waste Management in a research report on Thursday, June 26th. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Melius assumed coverage on shares of Waste Management in a research report on Monday, June 9th. They set a “buy” rating on the stock. Finally, UBS Group raised their target price on shares of Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.17.

Waste Management Stock Performance

NYSE:WM opened at $216.77 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The firm has a 50-day moving average price of $224.49 and a two-hundred day moving average price of $228.30. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a market capitalization of $87.32 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

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.