Bahl & Gaynor Inc. Has $119.18 Million Holdings in Waste Management, Inc. $WM

Key Points

• Bahl & Gaynor Inc. increased its holdings in Waste Management, Inc. by 23.2% to approximately $119.18 million, owning around 514,791 shares as of the most recent filing.
• The company reported a net income of $1.92 per share for the last quarter, surpassing estimates, with revenues reaching $6.43 billion, a 19% increase year-over-year.
• Waste Management declared a quarterly dividend of $0.825 per share, which will be paid out on September 26, reflecting an annualized yield of 1.5%.

Bahl & Gaynor Inc. grew its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 23.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 514,791 shares of the business services provider's stock after buying an additional 96,957 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.13% of Waste Management worth $119,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC grew its stake in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares during the last quarter. West Branch Capital LLC grew its stake in Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in Waste Management during the first quarter worth about $38,000. Adalta Capital Management LLC bought a new stake in Waste Management during the fourth quarter worth about $40,000. Finally, New Age Alpha Advisors LLC bought a new stake in Waste Management during the first quarter worth about $45,000. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Down 1.2%

Shares of NYSE WM opened at $226.9430 on Friday. The company's 50 day simple moving average is $229.28 and its 200 day simple moving average is $229.77. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The firm has a market capitalization of $91.42 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.82 and a beta of 0.64. 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 (NYSE:WM - Get Free Report) last posted 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. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Insider Buying and Selling at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Oppenheimer upped their target price on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. CIBC upped their target price on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Scotiabank upped their target price on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Profile

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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