Dakota Wealth Management Raises Stock Holdings in Waste Management, Inc. $WM

Dakota Wealth Management lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 50.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,330 shares of the business services provider’s stock after acquiring an additional 35,172 shares during the quarter. Dakota Wealth Management’s holdings in Waste Management were worth $23,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WM. Brighton Jones LLC increased its position 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 buying an additional 2,320 shares during the last quarter. Empowered Funds LLC increased its position in Waste Management by 82.9% in the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock worth $5,248,000 after buying an additional 10,272 shares during the last quarter. Zevenbergen Capital Investments LLC increased its position in Waste Management by 30.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock worth $2,158,000 after buying an additional 2,200 shares during the last quarter. BROOKFIELD Corp ON increased its position in Waste Management by 25.1% in the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock worth $4,661,000 after buying an additional 4,043 shares during the last quarter. Finally, Czech National Bank increased its position in Waste Management by 6.7% in the second quarter. Czech National Bank now owns 89,510 shares of the business services provider’s stock worth $20,482,000 after buying an additional 5,620 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.6%

NYSE WM opened at $219.48 on Thursday. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. 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 stock has a 50-day moving average of $225.51 and a 200-day moving average of $228.56. The firm has a market cap of $88.41 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 2.67 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, beating 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 analyst estimates of $6.37 billion. During the same quarter in the previous year, the company posted $1.82 EPS. Waste Management’s revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.825 per share. The ex-dividend date is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s dividend payout ratio is 48.96%.

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. UBS Group raised their price target on Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. CIBC raised their price target on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Royal Bank Of Canada reissued a “sector perform” rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Melius Research upgraded Waste Management to a “strong-buy” rating and set a $263.00 target price for the company in a research report on Monday, June 9th. Finally, BMO Capital Markets boosted their target price on Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.