Patrick Mauro Investment Advisor INC. Reduces Stock Position in Waste Management, Inc. $WM

Patrick Mauro Investment Advisor INC. trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,346 shares of the business services provider’s stock after selling 811 shares during the period. Waste Management accounts for about 2.5% of Patrick Mauro Investment Advisor INC.’s holdings, making the stock its 17th largest holding. Patrick Mauro Investment Advisor INC.’s holdings in Waste Management were worth $4,528,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Saudi Central Bank acquired a new position in Waste Management in the first quarter valued at approximately $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the 1st quarter worth approximately $38,000. Wealth Watch Advisors INC acquired a new position in shares of Waste Management in the 2nd quarter valued at $43,000. New Age Alpha Advisors LLC purchased a new position in shares of Waste Management in the 1st quarter valued at $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake 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 acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.0%

WM opened at $216.71 on Friday. The business has a 50 day moving average price of $212.34 and a two-hundred day moving average price of $223.68. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58. The company has a market cap of $87.31 billion, a PE ratio of 34.13, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (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 company had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the firm posted $1.96 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WM shares. Royal Bank Of Canada decreased their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 29th. UBS Group decreased their target price on Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Citigroup raised their price target on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. BMO Capital Markets boosted their price objective on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research note on Wednesday, July 30th. Finally, Erste Group Bank downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $248.25.

Insider Buying and Selling at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

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.