Drive Wealth Management LLC Acquires 97 Shares of Waste Management, Inc. $WM

Drive Wealth Management LLC grew its holdings in Waste Management, Inc. (NYSE:WM) by 2.7% in the second quarter, Holdings Channel reports. The firm owned 3,719 shares of the business services provider’s stock after buying an additional 97 shares during the quarter. Drive Wealth Management LLC’s holdings in Waste Management were worth $851,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WM. Valeo Financial Advisors LLC increased its holdings in shares of Waste Management by 15,782.4% in 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 in the last quarter. Nuveen LLC purchased a new position in Waste Management during the first quarter valued at $333,089,000. Ameriprise Financial Inc. lifted its position in 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 valued at $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Waste Management by 26.9% during the first 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 purchasing an additional 709,557 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in Waste Management by 738.2% during the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider’s stock valued at $175,766,000 after purchasing an additional 668,637 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on WM shares. Oppenheimer decreased their price target on Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. William Blair reissued an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. UBS Group decreased their price target on Waste Management from $265.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday. Citigroup decreased their price target on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Finally, Stifel Nicolaus started coverage on Waste Management in a report on Tuesday, September 30th. They set a “buy” rating and a $252.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

Waste Management Trading Up 1.1%

Shares of NYSE WM opened at $215.59 on Monday. The business’s 50 day moving average is $221.39 and its two-hundred day moving average is $227.35. 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 1-year low of $199.69 and a 1-year high of $242.58. The stock has a market capitalization of $86.85 billion, a P/E ratio of 31.99, a PEG ratio of 2.65 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $1.82 earnings per share. The firm’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, research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

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.