Sat Sep 21 11:35:11 UTC 2024: ## Wealth Alliance Cuts Waste Management Holdings, Other Investors Adjust Positions
**New York, NY -** Wealth Alliance, an institutional investor, reduced its stake in Waste Management, Inc. (NYSE: WM) by 29.7% in the second quarter, according to a recent filing with the Securities and Exchange Commission. The firm now owns 1,108 shares of the waste management company, worth $236,000.
This move comes amidst a flurry of activity from other large investors. Hexagon Capital Partners LLC significantly increased its position in Waste Management by 170.5% in the first quarter, while Thurston Springer Miller Herd & Titak Inc., Opal Wealth Advisors LLC, and Fairway Wealth LLC all acquired new stakes or increased their holdings in the company during recent quarters.
Meanwhile, Waste Management Vice President Michael J. Watson sold 1,500 shares of the company’s stock on July 16th at an average price of $220.00, for a total value of $330,000.00. Following the sale, Watson now directly owns 44,144 shares of the company’s stock.
Waste Management’s stock opened at $204.10 on Friday. The company has a market capitalization of $81.86 billion and a price-to-earnings ratio of 33.40.
The company reported $1.82 earnings per share (EPS) for the second quarter, meeting analysts’ expectations. Revenue reached $5.40 billion, slightly lower than the consensus estimate of $5.43 billion. Waste Management also declared a quarterly dividend of $0.75 per share, payable on September 27th.
Waste Management, through its subsidiaries, provides environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. Its services include waste and recyclable material collection, transfer station operations, and landfill management.
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