Frank Rimerman Advisors LLC Grows Position in Waste Management, Inc. $WM

Frank Rimerman Advisors LLC raised its position in Waste Management, Inc. (NYSE:WM) by 30.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,044 shares of the business services provider’s stock after purchasing an additional 946 shares during the period. Frank Rimerman Advisors LLC’s holdings in Waste Management were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Valeo Financial Advisors LLC boosted its stake in Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after purchasing an additional 1,717,603 shares during the period. Nuveen LLC purchased a new stake in shares of Waste Management in the first quarter valued at about $333,089,000. Ameriprise Financial Inc. boosted its stake in shares of Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after buying an additional 1,239,996 shares during the period. Sustainable Growth Advisers LP grew its holdings in shares of Waste Management by 55.5% during the second quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after buying an additional 1,034,258 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Waste Management by 26.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider’s stock valued at $774,000,000 after acquiring an additional 709,557 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

NYSE:WM opened at $211.29 on Wednesday. The firm’s fifty day simple moving average is $212.49 and its 200-day simple moving average is $223.98. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. The stock has a market cap of $85.12 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the firm posted $1.96 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WM shares. National Bankshares dropped their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 7th. Cowen reiterated a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Truist Financial set a $260.00 price objective on shares of Waste Management in a research report on Wednesday, October 29th. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, Oppenheimer reiterated an “outperform” rating and set a $262.00 price target on shares of Waste Management in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $248.25.

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.