Putney Financial Group LLC Cuts Stock Position in Waste Management, Inc. $WM

Putney Financial Group LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 7.7% in the second quarter, HoldingsChannel reports. The fund owned 1,677 shares of the business services provider’s stock after selling 140 shares during the quarter. Putney Financial Group LLC’s holdings in Waste Management were worth $384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealthfront Advisers LLC raised its position in shares of Waste Management by 3.1% in the 2nd quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after purchasing an additional 1,698 shares during the last quarter. GPM Growth Investors Inc. raised its holdings in shares of Waste Management by 50.6% in the second quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock worth $3,808,000 after buying an additional 5,588 shares during the last quarter. Zevenbergen Capital Investments LLC raised its holdings in shares of Waste Management by 30.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock worth $2,158,000 after buying an additional 2,200 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Waste Management in the 2nd quarter valued at $6,865,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the subject of a number of research reports. Scotiabank lowered their price target on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Cowen reiterated a “buy” rating on shares of Waste Management in a research report on Wednesday. BMO Capital Markets raised 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 report on Wednesday, July 30th. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.44.

Waste Management Stock Performance

WM opened at $200.61 on Friday. The firm has a fifty day moving average price of $217.96 and a 200 day moving average price of $226.54. Waste Management, Inc. has a 1 year low of $197.02 and a 1 year high of $242.58. The stock has a market cap of $80.81 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.51 and a beta of 0.64. 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 quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. Waste Management’s dividend payout ratio is presently 51.97%.

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.