BTC Capital Management Inc. Invests $5.50 Million in Waste Management, Inc. $WM

Key Points

• BTC Capital Management Inc. has invested approximately $5.5 million in Waste Management, acquiring 24,083 shares in the second quarter.
• Analysts have given Waste Management a consensus rating of "Moderate Buy" with an average price target of $255.17, reflecting positive sentiment despite minor revisions in target prices by some brokerages.
• Waste Management announced a quarterly dividend of $0.825 per share with a yield of 1.5%, showcasing its commitment to returning value to shareholders.

BTC Capital Management Inc. acquired a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 24,083 shares of the business services provider's stock, valued at approximately $5,496,000.

Other large investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake 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 increased its position in shares of Waste Management by 1.8% during the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after purchasing an additional 70,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Waste Management by 26.9% during 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 valued at $774,000,000 after purchasing an additional 709,557 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Waste Management by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after purchasing an additional 36,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Waste Management by 1.4% during the 1st 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 purchasing an additional 29,715 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WM shares. Melius initiated coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating for the company. UBS Group upped their target price on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Oppenheimer increased their price objective on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. Finally, Scotiabank increased their price target on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $255.17.

Waste Management Stock Performance

WM traded up $0.40 on Tuesday, hitting $217.39. 675,166 shares of the company traded hands, compared to its average volume of 1,706,042. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company has a 50 day moving average of $225.80 and a 200-day moving average of $228.69. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The stock has a market capitalization of $87.57 billion, a PE ratio of 32.26, a PEG ratio of 2.65 and a beta of 0.64.

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

Waste Management Dividend Announcement

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