Cassia Capital Partners LLC Cuts Position in Waste Management, Inc. $WM

Cassia Capital Partners LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,866 shares of the business services provider’s stock after selling 77 shares during the period. Cassia Capital Partners LLC’s holdings in Waste Management were worth $1,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WM. Lynch & Associates IN bought a new position in shares of Waste Management during the 2nd quarter valued at about $705,000. IMS Capital Management bought a new position in Waste Management during the second quarter valued at approximately $783,000. Ballentine Partners LLC raised its stake in shares of Waste Management by 3.4% during the second quarter. Ballentine Partners LLC now owns 10,689 shares of the business services provider’s stock worth $2,446,000 after acquiring an additional 352 shares in the last quarter. Home Federal Bank of Tennessee lifted its holdings in shares of Waste Management by 0.3% in the 2nd quarter. Home Federal Bank of Tennessee now owns 17,131 shares of the business services provider’s stock worth $3,920,000 after acquiring an additional 59 shares during the last quarter. Finally, BCS Wealth Management boosted its stake in shares of Waste Management by 5.4% in the 2nd quarter. BCS Wealth Management now owns 1,015 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 52 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of WM stock opened at $219.48 on Thursday. 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. The firm has a market cap of $88.41 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.67 and a beta of 0.64. The business’s 50 day moving average price is $225.51 and its 200-day moving average price is $228.56.

Waste Management (NYSE:WM) last announced 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 company had revenue of $6.43 billion during 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 firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WM shares. UBS Group boosted their price target 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. Barclays initiated coverage on Waste Management in a research note on Friday, September 19th. They issued an “overweight” rating and a $272.00 target price for the company. CIBC raised their price target on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, June 26th. Melius initiated coverage on Waste Management in a research report on Monday, June 9th. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. 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, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.17.

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.