Focus Financial Network Inc. Sells 384 Shares of Waste Management, Inc. $WM

Focus Financial Network Inc. decreased its stake in Waste Management, Inc. (NYSE:WM) by 4.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,934 shares of the business services provider’s stock after selling 384 shares during the period. Focus Financial Network Inc.’s holdings in Waste Management were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ascent Group LLC grew its stake in shares of Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock worth $1,520,000 after acquiring an additional 44 shares during the last quarter. Insight Wealth Strategies LLC grew its stake in shares of Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock worth $2,698,000 after acquiring an additional 44 shares during the last quarter. McAdam LLC grew its stake in shares of Waste Management by 3.1% in the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after acquiring an additional 44 shares during the last quarter. Stonebridge Financial Group LLC grew its stake in shares of Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock worth $355,000 after acquiring an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC grew its stake in shares of Waste Management by 2.0% in the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock worth $536,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Up 0.1%

Shares of NYSE:WM opened at $215.88 on Friday. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The company’s fifty day moving average is $226.23 and its 200-day moving average is $228.86. The company has a market capitalization of $86.96 billion, a PE ratio of 32.03, a P/E/G ratio of 2.64 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company earned $1.82 EPS. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th. Waste Management’s payout ratio is currently 48.96%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WM. William Blair restated an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Melius started coverage on shares of Waste Management in a research note on Monday, June 9th. They set a “buy” rating on the stock. BMO Capital Markets lifted their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 30th. CIBC lifted their price target on shares of Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, June 26th. Finally, Melius Research upgraded shares of Waste Management to a “strong-buy” rating and set a $263.00 price target on the stock in a research note on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $254.18.

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.