Elevation Point Wealth Partners LLC Grows Stake in Waste Management, Inc. $WM

Elevation Point Wealth Partners LLC raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 138.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,534 shares of the business services provider’s stock after purchasing an additional 3,212 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Waste Management were worth $1,266,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WM shares. National Bankshares cut their price target on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Royal Bank Of Canada cut their target price on Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 29th. Robert W. Baird upgraded Waste Management from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Truist Financial set a $260.00 price target on Waste Management in a research note on Wednesday, October 29th. Finally, Cowen restated a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $248.68.

Waste Management Price Performance

Shares of WM opened at $217.66 on Friday. The business’s 50-day moving average is $212.38 and its two-hundred day moving average is $223.25. The company has a market capitalization of $87.69 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84.

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). The company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

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.