Independent Solutions Wealth Management LLC Purchases 91 Shares of Waste Management, Inc. $WM

Independent Solutions Wealth Management LLC raised its holdings in Waste Management, Inc. (NYSE:WM) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,939 shares of the business services provider’s stock after acquiring an additional 91 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Waste Management were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake in shares of Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after buying an additional 1,239,996 shares during the period. Northern Trust Corp raised its holdings in shares of Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock valued at $941,709,000 after acquiring an additional 70,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Waste Management by 26.9% in 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 acquiring an additional 709,557 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Waste Management by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider’s stock valued at $570,108,000 after purchasing an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Waste Management by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider’s stock worth $505,137,000 after purchasing an additional 29,715 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WM has been the topic of several recent research reports. Oppenheimer upped their price target on Waste Management from $260.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. UBS Group upped their target price 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. Erste Group Bank cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Melius initiated coverage on shares of Waste Management in a research note on Monday, June 9th. They set a “buy” rating on the stock. Finally, Barclays assumed coverage on shares of Waste Management in a research note on Friday, September 19th. They set an “overweight” rating and a $272.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $255.17.

Waste Management Stock Down 0.9%

Shares of NYSE WM opened at $217.68 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The stock has a market capitalization of $87.69 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.68 and a beta of 0.64. The firm’s 50-day moving average price is $224.08 and its 200-day moving average price is $228.22.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping 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 last year, the firm posted $1.82 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s dividend payout ratio is presently 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.