Waste Management, Inc. $WM Stock Position Cut by TruNorth Capital Management LLC

TruNorth Capital Management LLC lessened its stake in Waste Management, Inc. (NYSE:WM) by 52.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 430 shares of the business services provider’s stock after selling 467 shares during the period. TruNorth Capital Management LLC’s holdings in Waste Management were worth $98,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised 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 acquiring an additional 2,320 shares in the last quarter. Empowered Funds LLC raised 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 acquiring an additional 10,272 shares in the last quarter. Zevenbergen Capital Investments LLC raised 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 acquiring an additional 2,200 shares in the last quarter. BROOKFIELD Corp ON raised 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 acquiring an additional 4,043 shares in the last quarter. Finally, Czech National Bank raised 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 acquiring an additional 5,620 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 0.3%

NYSE:WM opened at $220.10 on Thursday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The stock’s 50-day moving average is $224.77 and its two-hundred day moving average is $228.37. The stock has a market cap of $88.66 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 2.70 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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The business’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, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on WM. UBS Group boosted their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Barclays began coverage on Waste Management in a research note on Friday, September 19th. They issued an “overweight” rating and a $272.00 price target on the stock. CIBC lifted their price target on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, June 26th. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.17.

Waste Management 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.