Conning Inc. Buys 303 Shares of Waste Management, Inc. $WM

Conning Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,708 shares of the business services provider’s stock after buying an additional 303 shares during the period. Conning Inc.’s holdings in Waste Management were worth $4,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. McAdam LLC boosted its holdings in shares of Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after buying an additional 44 shares during the period. Stonebridge Financial Group LLC raised its stake in Waste Management by 3.0% in the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock worth $355,000 after purchasing an additional 45 shares in the last quarter. Formidable Asset Management LLC raised its stake in Waste Management by 2.0% in the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock worth $536,000 after purchasing an additional 45 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in Waste Management by 3.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock worth $349,000 after purchasing an additional 46 shares in the last quarter. Finally, Tandem Capital Management Corp ADV raised its stake in Waste Management by 0.7% in the 1st quarter. Tandem Capital Management Corp ADV now owns 6,614 shares of the business services provider’s stock worth $1,531,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Analyst Ratings Changes

WM has been the subject of several analyst reports. Scotiabank boosted their target price on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Barclays lowered their price objective on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a research report on Thursday. Raymond James Financial upped their price target on shares of Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Oppenheimer decreased their price target on shares of Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets increased their price objective 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. Two research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.32.

Waste Management Stock Up 0.7%

Shares of NYSE WM opened at $219.09 on Friday. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The firm has a market cap of $88.26 billion, a PE ratio of 32.51, a P/E/G ratio of 2.68 and a beta of 0.64. The company’s fifty day simple moving average is $223.04 and its 200 day simple moving average is $227.98. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating 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 firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders 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 dividend payout ratio (DPR) is 48.96%.

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.