Aberdeen Group plc Sells 96,649 Shares of Waste Management, Inc. $WM

Key Points

• Aberdeen Group plc has reduced its stake in Waste Management, Inc. by 13.4%, selling 96,649 shares during the second quarter and now owns 624,190 shares valued at approximately $142.4 million.
• Waste Management reported a quarterly EPS of $1.92, exceeding expectations, with a revenue increase of 19.0% year-over-year, reaching $6.43 billion.
• The company recently declared a quarterly dividend of $0.825, resulting in an annualized yield of 1.5% and a dividend payout ratio of nearly 49%.

Aberdeen Group plc lessened its position in Waste Management, Inc. (NYSE:WM - Free Report) by 13.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 624,190 shares of the business services provider's stock after selling 96,649 shares during the quarter. Aberdeen Group plc owned 0.16% of Waste Management worth $142,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. McAdam LLC grew its stake in shares of Waste Management by 3.1% during the first 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. Stonebridge Financial Group LLC grew its stake in shares of Waste Management by 3.0% during the first 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 grew its stake in shares of Waste Management by 2.0% during the first 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. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Waste Management by 3.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider's stock valued at $349,000 after buying an additional 46 shares during the last quarter. Finally, Tandem Capital Management Corp ADV grew its stake in shares of Waste Management by 0.7% during the first quarter. Tandem Capital Management Corp ADV now owns 6,614 shares of the business services provider's stock valued at $1,531,000 after buying an additional 47 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM opened at $219.09 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a 50-day simple moving average of $223.04 and a two-hundred day simple moving average of $227.98. The firm has a market capitalization of $88.26 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the business posted $1.82 earnings per share. Waste Management's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

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 $0.825 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is 48.96%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group raised their price objective on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Citigroup cut their target price on Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. National Bankshares cut their target price on Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research note on Tuesday. BMO Capital Markets raised their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 30th. Finally, Erste Group Bank cut Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.32.

About Waste Management

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.

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