Allspring Global Investments Holdings LLC Cuts Stock Holdings in Waste Management, Inc. $WM

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Waste Management, Inc. by 62.2%, owning 93,596 shares valued at approximately $21.4 million after selling 154,136 shares in Q2.
• Despite Allspring's exit, several other large investors, like CWM LLC, increased their positions in Waste Management, signifying ongoing institutional interest in the company.
• Equities analysts generally maintain a positive outlook for Waste Management, with a consensus target price of $253.00 and many rating the stock as a “Moderate Buy.”

Allspring Global Investments Holdings LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 62.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,596 shares of the business services provider's stock after selling 154,136 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Waste Management were worth $21,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. GW Henssler & Associates Ltd. increased its position in shares of Waste Management by 1.0% during the second quarter. GW Henssler & Associates Ltd. now owns 5,089 shares of the business services provider's stock worth $1,164,000 after acquiring an additional 49 shares during the period. Mitchell Sinkler & Starr PA increased its position in shares of Waste Management by 1.4% during the second quarter. Mitchell Sinkler & Starr PA now owns 9,130 shares of the business services provider's stock worth $2,089,000 after acquiring an additional 130 shares during the period. LRI Investments LLC increased its position in shares of Waste Management by 5.1% during the second quarter. LRI Investments LLC now owns 2,073 shares of the business services provider's stock worth $474,000 after acquiring an additional 100 shares during the period. CWM LLC increased its position in shares of Waste Management by 5.0% during the second quarter. CWM LLC now owns 110,313 shares of the business services provider's stock worth $25,242,000 after acquiring an additional 5,205 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. grew its stake in shares of Waste Management by 4.8% during the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 150,820 shares of the business services provider's stock worth $34,511,000 after purchasing an additional 6,965 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WM shares. Stifel Nicolaus started coverage on shares of Waste Management in a research note on Tuesday, September 30th. They set a "buy" rating and a $252.00 target price for the company. Raymond James Financial boosted their target price on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Waste Management in a research note on Wednesday, October 8th. Finally, UBS Group lowered their target price on shares of Waste Management from $265.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and a consensus target price of $253.00.

Waste Management Price Performance

Shares of WM opened at $212.99 on Friday. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The company has a market capitalization of $85.80 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. The firm has a 50-day simple moving average of $221.79 and a 200-day simple moving average of $227.59. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share 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 the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The business'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, equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

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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