Waste Management, Inc. $WM Holdings Cut by Spire Wealth Management

Spire Wealth Management lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 35.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,144 shares of the business services provider’s stock after selling 2,868 shares during the period. Spire Wealth Management’s holdings in Waste Management were worth $1,177,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Saudi Central Bank bought a new position in Waste Management during the first quarter valued at approximately $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Waste Management during the 1st quarter worth $38,000. Wealth Watch Advisors INC bought a new position in shares of Waste Management during the 2nd quarter valued at $43,000. New Age Alpha Advisors LLC bought a new stake in Waste Management in the first quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Waste Management by 381.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock worth $47,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $200.03 on Friday. The stock has a market cap of $80.58 billion, a PE ratio of 31.50, a P/E/G ratio of 2.51 and a beta of 0.64. Waste Management, Inc. has a 1 year low of $197.02 and a 1 year high of $242.58. The stock’s 50 day simple moving average is $217.43 and its 200-day simple moving average is $226.32. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s payout ratio is presently 51.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. William Blair reissued an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. National Bankshares cut their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Erste Group Bank lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Royal Bank Of Canada lowered their target price on Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on Waste Management from $277.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $248.61.

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.