Laffer Tengler Investments Inc. Raises Holdings in Waste Management, Inc. $WM

Laffer Tengler Investments Inc. lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 424.7% during the second quarter, Holdings Channel reports. The firm owned 5,488 shares of the business services provider’s stock after acquiring an additional 4,442 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Waste Management were worth $1,256,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Saudi Central Bank purchased a new stake in Waste Management in the first quarter valued at approximately $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Waste Management in the 1st quarter valued at $38,000. Wealth Watch Advisors INC purchased a new stake in Waste Management in the 2nd quarter valued at $43,000. New Age Alpha Advisors LLC acquired a new stake in Waste Management during the 1st quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in Waste Management by 381.0% during 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 during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 1.1%

Waste Management stock opened at $201.87 on Monday. The stock’s 50 day moving average price is $214.88 and its 200 day moving average price is $225.21. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $242.58. The company has a market cap of $81.33 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82.

Waste Management (NYSE:WM) last released 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). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the business posted $1.96 EPS. Waste Management’s revenue was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 12th. Waste Management’s dividend payout ratio is presently 51.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Oppenheimer reaffirmed an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a research note on Wednesday, October 29th. Raymond James Financial lifted their target price on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. William Blair restated an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Finally, BMO Capital Markets increased their price target on Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $248.44.

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.