Sigma Planning Corp Acquires 583 Shares of Waste Management, Inc. $WM

Sigma Planning Corp increased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,647 shares of the business services provider’s stock after purchasing an additional 583 shares during the quarter. Sigma Planning Corp’s holdings in Waste Management were worth $9,301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State of Michigan Retirement System grew its holdings in Waste Management by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 99,588 shares of the business services provider’s stock valued at $22,788,000 after buying an additional 500 shares in the last quarter. Tredje AP fonden grew its stake in Waste Management by 16.9% during the second quarter. Tredje AP fonden now owns 287,705 shares of the business services provider’s stock valued at $65,833,000 after acquiring an additional 41,642 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Waste Management in the 2nd quarter valued at $34,323,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Waste Management in the 2nd quarter worth $355,000. Finally, Welch & Forbes LLC boosted its holdings in shares of Waste Management by 25.8% during the 2nd quarter. Welch & Forbes LLC now owns 8,134 shares of the business services provider’s stock valued at $1,861,000 after purchasing an additional 1,666 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

NYSE WM opened at $200.03 on Monday. The company has a market cap of $80.58 billion, a P/E ratio of 31.50, a P/E/G ratio of 2.51 and a beta of 0.64. The business’s 50 day moving average price is $217.43 and its 200-day moving average price is $226.26. Waste Management, Inc. has a fifty-two week low of $197.02 and a fifty-two week high of $242.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84.

Waste Management (NYSE:WM) last posted 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 return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the firm earned $1.96 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 12th. Waste Management’s dividend payout ratio is presently 51.97%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Waste Management from $277.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. National Bankshares reduced their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Scotiabank lowered their target price on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Oppenheimer restated an “outperform” rating and issued a $262.00 price target on shares of Waste Management in a research report on Wednesday. Finally, Cowen reiterated a “buy” rating on shares of Waste Management in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $248.61.

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.