Waste Management, Inc. $WM Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 16.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 856,846 shares of the business services provider’s stock after buying an additional 123,041 shares during the period. Envestnet Asset Management Inc. owned about 0.21% of Waste Management worth $196,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WM. Saudi Central Bank purchased a new stake in shares of Waste Management in the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management during the first quarter worth about $38,000. New Age Alpha Advisors LLC purchased a new stake in shares of Waste Management in the first quarter valued at about $45,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in 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 valued at $47,000 after buying an additional 160 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC acquired a new position in shares of Waste Management in the first quarter worth $48,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the subject of several analyst reports. Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. National Bankshares cut their price objective 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. Citigroup lowered their target price on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a report on Wednesday, October 8th. Finally, Oppenheimer decreased their price objective on Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Waste Management Trading Down 0.5%

NYSE WM opened at $213.69 on Tuesday. 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 one year low of $199.69 and a one year high of $242.58. The company’s 50 day moving average price is $219.68 and its 200 day moving average price is $227.10. The firm has a market capitalization of $86.08 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 2.64 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its earnings results 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 net margin of 11.36% and a return on equity of 34.37%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the business posted $1.96 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is presently 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.