Conning Inc. Has $4.05 Million Position in Waste Management, Inc. $WM

Conning Inc. boosted its holdings in Waste Management, Inc. (NYSE:WM) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,708 shares of the business services provider’s stock after buying an additional 303 shares during the period. Conning Inc.’s holdings in Waste Management were worth $4,052,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WM. Brighton Jones LLC raised its holdings in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the period. Sprott Inc. acquired a new stake in Waste Management in the first quarter worth $325,000. GAMMA Investing LLC raised its holdings in Waste Management by 13.1% in the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after purchasing an additional 958 shares during the period. Simon Quick Advisors LLC raised its holdings in Waste Management by 5.3% in the first quarter. Simon Quick Advisors LLC now owns 1,941 shares of the business services provider’s stock worth $449,000 after purchasing an additional 97 shares during the period. Finally, Sky Investment Group LLC raised its holdings in Waste Management by 1.0% in the first quarter. Sky Investment Group LLC now owns 8,598 shares of the business services provider’s stock worth $1,991,000 after purchasing an additional 85 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WM has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Barclays cut their target price on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating on the stock in a report on Thursday. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. BMO Capital Markets raised their price objective on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Finally, UBS Group raised their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.32.

Waste Management Stock Up 0.7%

Waste Management stock opened at $219.09 on Friday. The company has a market cap of $88.26 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a fifty day simple moving average of $223.04 and a 200 day simple moving average of $227.98. The company has a current ratio of 0.86, a quick ratio of 0.82 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, beating 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 firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis 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%.

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.