Cove Private Wealth LLC Takes $256,000 Position in Waste Management, Inc. $WM

Cove Private Wealth LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,117 shares of the business services provider’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westend Capital Management LLC raised its position in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 66 shares during the period. West Branch Capital LLC grew its stake in Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after buying an additional 49 shares in the last quarter. Saudi Central Bank acquired a new stake in Waste Management during the first quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Waste Management in the 1st quarter valued at approximately $38,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management in the 1st quarter valued at approximately $45,000. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

NYSE WM opened at $218.76 on Friday. The company has a market cap of $88.12 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The business’s 50 day moving average price is $225.18 and its 200-day moving average price is $228.45. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid 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 dividend yield of 1.5%. Waste Management’s payout ratio is currently 48.96%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WM shares. Oppenheimer raised their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. UBS Group lifted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. William Blair reissued an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Barclays initiated coverage on Waste Management in a research report on Friday, September 19th. They set an “overweight” rating and a $272.00 price target on the stock. Finally, Melius Research raised Waste Management to a “strong-buy” rating and set a $263.00 price objective for the company in a research note on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $255.17.

Waste Management 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.