Beacon Financial Group Sells 1,492 Shares of Waste Management, Inc. $WM

Key Points

• Beacon Financial Group has reduced its stake in Waste Management, Inc. by 5.9%, now holding 23,963 shares valued at approximately $5.48 million.
• Several large investors increased their holdings in Waste Management, including Ameriprise Financial, which grew its stake by 30.4% during the first quarter.
• Waste Management reported a quarterly earnings per share (EPS) of $1.92, surpassing analysts' expectations and marking a 19% increase in revenue year-over-year.

Beacon Financial Group lowered its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,963 shares of the business services provider's stock after selling 1,492 shares during the period. Beacon Financial Group's holdings in Waste Management were worth $5,483,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in Waste Management by 30.4% in the 1st 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 last quarter. Northern Trust Corp grew its holdings in Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock worth $941,709,000 after acquiring an additional 70,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Waste Management by 26.9% in the 1st 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 worth $774,000,000 after acquiring an additional 709,557 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Waste Management by 7.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock worth $531,456,000 after acquiring an additional 177,398 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Waste Management by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock worth $570,108,000 after acquiring an additional 36,836 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WM. BMO Capital Markets raised their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Oppenheimer raised 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. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a research report on Monday, June 9th. CIBC raised 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. Finally, Erste Group Bank cut shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Trading Down 0.9%

Shares of NYSE WM opened at $216.15 on Tuesday. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The stock has a market cap of $87.07 billion, a P/E ratio of 32.07, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm has a 50-day moving average of $226.85 and a 200 day moving average of $229.18. 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 issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the company posted $1.82 EPS. Waste Management's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's dividend payout ratio (DPR) is currently 48.96%.

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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