Waste Management, Inc. $WM is Purus Wealth Management LLC’s 5th Largest Position

Purus Wealth Management LLC lowered its position in Waste Management, Inc. (NYSE:WM) by 0.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 41,009 shares of the business services provider’s stock after selling 169 shares during the period. Waste Management accounts for approximately 4.0% of Purus Wealth Management LLC’s portfolio, making the stock its 5th biggest holding. Purus Wealth Management LLC’s holdings in Waste Management were worth $9,494,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WM. Westend Capital Management LLC lifted its position in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after buying an additional 66 shares in the last quarter. West Branch Capital LLC grew its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares during the period. Transce3nd LLC purchased a new stake in shares of Waste Management during the 4th quarter valued at approximately $28,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management in the first quarter valued at approximately $38,000. Finally, New Age Alpha Advisors LLC purchased a new position in Waste Management in the first quarter worth approximately $45,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Price Performance

Shares of WM opened at $229.4290 on Friday. The firm has a market capitalization of $92.42 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 2.82 and a beta of 0.64. The firm’s fifty day simple moving average is $229.47 and its 200-day simple moving average is $229.74. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. 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 (NYSE:WM) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.4%. Waste Management’s payout ratio is currently 48.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Seaport Res Ptn upgraded Waste Management to a “hold” rating in a research report on Tuesday, May 6th. Wall Street Zen upgraded Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised Waste Management from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Scotiabank raised their target price on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. Finally, Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $254.35.

Insider Buying and Selling

In other news, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

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.