Cidel Asset Management Inc. Increases Stock Position in Waste Management, Inc. $WM

Cidel Asset Management Inc. boosted its holdings in Waste Management, Inc. (NYSE:WM) by 3.3% in the second quarter, Holdings Channel reports. The institutional investor owned 1,650 shares of the business services provider’s stock after acquiring an additional 53 shares during the quarter. Cidel Asset Management Inc.’s holdings in Waste Management were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Westend Capital Management LLC raised its stake in shares of Waste Management by 126.9% during 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 period. Saudi Central Bank bought a new stake in shares of Waste Management during the first quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management in the first quarter worth about $38,000. New Age Alpha Advisors LLC bought a new position in shares of Waste Management in the first quarter valued at approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake 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 acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 1.1%

Shares of WM stock opened at $215.59 on Monday. The business has a 50-day moving average price of $221.39 and a two-hundred day moving average price of $227.35. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm has a market cap of $86.85 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64.

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 company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company posted $1.82 EPS. Waste Management’s quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is currently 48.96%.

Wall Street Analyst Weigh In

Several research firms have issued reports on WM. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, October 8th. UBS Group lowered their price objective on Waste Management from $265.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday. Oppenheimer reduced their target price on Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. CIBC raised their price target on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, June 26th. Finally, BMO Capital Markets boosted their price objective on Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

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.