FLC Capital Advisors Expands Holdings in Waste Management, Inc.

FLC Capital Advisors has acquired a new stake in Waste Management, Inc. (NYSE: WM) during the second quarter of 2023, according to HoldingsChannel. The investment firm purchased 1,012 shares valued at approximately $232,000. This move reflects a growing interest in the environmental services sector, which plays a crucial role in waste management and recycling.

In addition to FLC Capital Advisors, several other institutional investors have recently adjusted their positions in Waste Management. Brighton Jones LLC increased its holdings by 51.1% during the fourth quarter, acquiring an additional 2,320 shares, bringing its total to 6,861 shares worth $1,384,000. Sprott Inc. entered the market with a new position valued at about $325,000, while GAMMA Investing LLC expanded its stake by 13.1%, now owning 8,247 shares valued at approximately $1,909,000. Additionally, both Advisor Resource Council and Nilsine Partners LLC made new investments in the company, valued at around $384,000 and $236,000, respectively. Collectively, hedge funds and institutional investors own 80.40% of Waste Management’s stock.

Current Financial Performance

Shares of Waste Management opened at $215.50 on Tuesday, with a market capitalization of $86.81 billion. The company reports a price-to-earnings (P/E) ratio of 31.97 and a P/E/G ratio of 2.65. Its stock has shown considerable stability, with a beta of 0.64. The firm’s current ratio stands at 0.86, while the quick ratio is at 0.82, indicating a manageable level of short-term liabilities. Waste Management currently has a debt-to-equity ratio of 2.51, suggesting a reliance on debt financing.

The company’s share price has fluctuated, marking a one-year low of $199.69 and a high of $242.58. Recently, Waste Management announced a quarterly dividend of $0.825, paid out to stockholders of record on September 12, 2023. This dividend equates to an annualized payout of $3.30 and a yield of 1.5%. The ex-dividend date was also set for September 12, 2023, with a payout ratio of 48.96%.

Analyst Insights and Market Ratings

Waste Management has garnered attention from multiple analysts, resulting in adjustments to their outlooks on the stock. National Bankshares recently lowered its price target from $250.00 to $243.00 while maintaining a “sector perform” rating. In contrast, BMO Capital Markets increased its target price from $245.00 to $248.00, assigning a “market perform” rating.

Weiss Ratings reaffirmed a “buy (b)” rating for Waste Management, while Erste Group Bank downgraded the stock from a “buy” to a “hold” rating. Oppenheimer also revised its target price downward from $265.00 to $262.00, preserving an “outperform” rating. Currently, the consensus from analysts includes two “Strong Buy” ratings, fourteen “Buy” ratings, and ten “Hold” ratings, leading to an overall consensus rating of “Moderate Buy” with a target price of $253.00.

Waste Management, Inc. operates through its subsidiaries, providing essential environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. The company offers various services, including waste collection, transportation, and recycling, as well as operating transfer stations and landfill facilities that convert landfill gas into renewable energy.

For investors and stakeholders, the recent activities and financial performance of Waste Management indicate a strong positioning within the sector, bolstered by significant institutional interest and ongoing analyst coverage.