Phoenix Financial Ltd. Acquires 2,858 Shares of Waste Management, Inc. $WM

Phoenix Financial Ltd. raised its holdings in Waste Management, Inc. (NYSE:WM) by 158.9% during the second quarter, Holdings Channel reports. The institutional investor owned 4,657 shares of the business services provider’s stock after buying an additional 2,858 shares during the quarter. Phoenix Financial Ltd.’s holdings in Waste Management were worth $1,065,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WM. Brighton Jones LLC raised its holdings in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Zevenbergen Capital Investments LLC raised its holdings in shares of Waste Management by 30.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after purchasing an additional 2,200 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Waste Management by 82.9% in the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock valued at $5,248,000 after purchasing an additional 10,272 shares during the last quarter. BROOKFIELD Corp ON raised its holdings in shares of Waste Management by 25.1% in the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock valued at $4,661,000 after purchasing an additional 4,043 shares during the last quarter. Finally, Czech National Bank raised its holdings in shares of Waste Management by 6.7% in the second quarter. Czech National Bank now owns 89,510 shares of the business services provider’s stock valued at $20,482,000 after purchasing an additional 5,620 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Price Performance

WM opened at $214.73 on Wednesday. The company has a market capitalization of $86.50 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 2.65 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm has a 50-day moving average price of $220.60 and a 200-day moving average price of $227.20. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58.

Waste Management (NYSE:WM) last posted 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 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% on a year-over-year basis. During the same quarter last year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The firm also recently announced 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 was Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is presently 48.96%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WM. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a report on Wednesday, October 8th. Barclays decreased their price objective on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Raymond James Financial raised their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Oppenheimer decreased their price objective on shares of Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, CIBC raised their price objective on shares of Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

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.