Asset Advisors Investment Management LLC Sells 1,190 Shares of Waste Management, Inc. $WM

Key Points

• Asset Advisors Investment Management LLC reduced its stake in Waste Management, Inc. by 3.6%, selling 1,190 shares and bringing its holdings to 31,942 shares, valued at approximately $7.3 million.
• Institutional investors collectively own 80.40% of Waste Management's stock, with notable increases in holdings from Ameriprise Financial Inc. (30.4% increase) and UBS AM (26.9% increase).
• Waste Management reported a net margin of 11.36% and a quarterly revenue of $6.43 billion, exceeding analysts' expectations, and plans to distribute a quarterly dividend of $0.825 per share.

Asset Advisors Investment Management LLC lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,942 shares of the business services provider's stock after selling 1,190 shares during the period. Asset Advisors Investment Management LLC's holdings in Waste Management were worth $7,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in shares of Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares during the period. Northern Trust Corp increased its holdings in Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after buying an additional 70,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Waste Management by 26.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock valued at $774,000,000 after buying an additional 709,557 shares during the period. Dimensional Fund Advisors LP boosted its stake in Waste Management by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after acquiring an additional 36,836 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Waste Management by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after acquiring an additional 29,715 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WM shares. UBS Group raised their target price on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Citigroup lowered their price objective on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Melius began coverage on shares of Waste Management in a research note on Monday, June 9th. They set a "buy" rating for the company. Finally, Scotiabank lifted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $255.17.

Waste Management Stock Down 1.4%

WM opened at $216.77 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 debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The company has a fifty day moving average of $224.49 and a two-hundred day moving average of $228.30. The stock has a market capitalization of $87.32 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 2.69 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.37 billion. During the same quarter in the previous year, the company earned $1.82 earnings per share. The company's quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

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