Y Intercept Hong Kong Ltd Increases Stock Position in Waste Management, Inc. $WM

Y Intercept Hong Kong Ltd increased its position in Waste Management, Inc. (NYSE:WM) by 47.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,467 shares of the business services provider’s stock after acquiring an additional 9,447 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Waste Management were worth $6,743,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in WM. McAdam LLC raised its stake in Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after buying an additional 44 shares during the last quarter. Syntegra Private Wealth Group LLC raised its stake in Waste Management by 2.0% during the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after buying an additional 44 shares during the last quarter. Stonebridge Financial Group LLC raised its stake in Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after buying an additional 45 shares during the last quarter. Formidable Asset Management LLC raised its stake in Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after buying an additional 45 shares during the last quarter. Finally, Harbour Trust & Investment Management Co raised its stake in Waste Management by 1.1% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after buying an additional 45 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WM shares. Weiss Ratings restated a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, October 8th. Stifel Nicolaus started coverage on Waste Management in a research note on Tuesday, September 30th. They issued a “buy” rating and a $252.00 price objective for the company. National Bankshares reduced their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Raymond James Financial upped their price objective on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Finally, Citigroup reduced their price objective on Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Waste Management Stock Down 0.5%

WM opened at $213.69 on Tuesday. The firm has a 50-day simple moving average of $219.68 and a two-hundred day simple moving average of $227.10. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a market capitalization of $86.08 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 2.64 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.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate of $2.01 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 $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the company earned $1.96 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

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.