Insight Wealth Strategies LLC Sells 1,067 Shares of Waste Management, Inc. $WM

Insight Wealth Strategies LLC cut its position in Waste Management, Inc. (NYSE:WM) by 9.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,588 shares of the business services provider’s stock after selling 1,067 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Waste Management were worth $2,422,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC boosted its stake in Waste Management by 126.9% in 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. West Branch Capital LLC boosted its stake in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 49 shares during the period. Saudi Central Bank bought a new stake in Waste Management in the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. bought a new stake in Waste Management in the 1st quarter valued at $38,000. Finally, New Age Alpha Advisors LLC bought a new stake in Waste Management in the 1st quarter valued at $45,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Waste Management stock opened at $218.22 on Friday. 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 52 week low of $199.69 and a 52 week high of $242.58. The stock has a market capitalization of $87.91 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64. The stock has a fifty day moving average of $227.06 and a 200-day moving average of $229.30.

Waste Management (NYSE:WM) last posted 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. 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 analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. Waste Management’s revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side 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 announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued 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%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank boosted their price target on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. National Bank Financial raised Waste Management to a “hold” rating in a report on Monday, May 26th. Raymond James Financial lifted their price objective on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Melius Research raised Waste Management to a “strong-buy” rating and set a $263.00 price objective for the company in a report on Monday, June 9th. Finally, Melius assumed coverage on Waste Management in a report on Monday, June 9th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.35.

About Waste Management

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.