Galvin Gaustad & Stein LLC Reduces Stock Position in Waste Management, Inc. $WM

Galvin Gaustad & Stein LLC reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,813 shares of the business services provider’s stock after selling 279 shares during the period. Waste Management accounts for approximately 1.6% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 21st largest position. Galvin Gaustad & Stein LLC’s holdings in Waste Management were worth $18,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WM. Brighton Jones LLC lifted its holdings in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the period. Sprott Inc. purchased a new stake in Waste Management in the first quarter worth about $325,000. Farther Finance Advisors LLC lifted its holdings in Waste Management by 66.9% in the first quarter. Farther Finance Advisors LLC now owns 7,690 shares of the business services provider’s stock worth $1,798,000 after buying an additional 3,082 shares during the period. GAMMA Investing LLC lifted its holdings in Waste Management by 13.1% in the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after buying an additional 958 shares during the period. Finally, MV Capital Management Inc. lifted its holdings in Waste Management by 4.9% in the first quarter. MV Capital Management Inc. now owns 1,087 shares of the business services provider’s stock worth $252,000 after buying an additional 51 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WM shares. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Waste Management in a research note on Wednesday. UBS Group raised their target price on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Finally, Barclays decreased their target price on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $254.32.

Waste Management Trading Down 1.1%

Shares of WM stock opened at $217.56 on Friday. Waste Management, Inc. has a 12-month low of $199.69 and a 12-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. The firm’s 50 day moving average is $223.24 and its 200 day moving average is $228.03. The stock has a market capitalization of $87.64 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.71 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced 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 was Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management’s dividend payout ratio (DPR) 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.