Simplicity Wealth LLC Boosts Stake in Waste Management, Inc. $WM

Simplicity Wealth LLC increased its holdings in Waste Management, Inc. (NYSE:WM) by 119.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 12,737 shares of the business services provider’s stock after acquiring an additional 6,933 shares during the quarter. Simplicity Wealth LLC’s holdings in Waste Management were worth $2,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock valued at $1,233,240,000 after acquiring an additional 1,239,996 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock valued at $941,709,000 after acquiring an additional 70,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Waste Management by 26.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider’s stock valued at $774,000,000 after acquiring an additional 709,557 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Waste Management by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider’s stock worth $570,108,000 after purchasing an additional 36,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Waste Management by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider’s stock worth $505,137,000 after purchasing an additional 29,715 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Raymond James Financial raised their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. CIBC lifted their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, June 26th. 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 research report on Wednesday, July 30th. Scotiabank boosted their price objective on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Finally, Citigroup dropped their target price on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.17.

Waste Management Stock Up 1.3%

Waste Management stock opened at $219.77 on Monday. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The stock has a market cap of $88.53 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.68 and a beta of 0.64. The company’s 50-day moving average price is $224.29 and its two-hundred day moving average price is $228.27. 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 quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the business posted $1.82 EPS. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s payout ratio is currently 48.96%.

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.