City Holding Co. Raises Position in Waste Management, Inc. $WM

Key Points

• City Holding Co. increased its stake in Waste Management, Inc. by 3.2% during the second quarter, now holding approximately $11.55 million worth of the stock.
• Waste Management, Inc. reported Q2 earnings per share of $1.92, surpassing estimates and reflecting a 19.0% year-over-year revenue growth to $6.43 billion.
• The company declared a quarterly dividend of $0.825 per share, representing an annualized dividend yield of 1.5% with a payout ratio of 48.96%.

City Holding Co. grew its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,492 shares of the business services provider's stock after acquiring an additional 1,569 shares during the quarter. Waste Management comprises about 1.5% of City Holding Co.'s holdings, making the stock its 11th largest position. City Holding Co.'s holdings in Waste Management were worth $11,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. McAdam LLC boosted its position in Waste Management by 3.1% in the first quarter. McAdam LLC now owns 1,482 shares of the business services provider's stock valued at $343,000 after buying an additional 44 shares in the last quarter. Stonebridge Financial Group LLC lifted its stake in Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after buying an additional 45 shares in the last quarter. Formidable Asset Management LLC boosted its holdings in Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after purchasing an additional 45 shares during the last quarter. KRS Capital Management LLC grew its position in shares of Waste Management by 3.1% in the 1st quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider's stock valued at $358,000 after acquiring an additional 46 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Waste Management by 3.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider's stock worth $349,000 after buying an additional 46 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Up 0.7%

Shares of NYSE WM opened at $218.76 on Friday. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a market cap of $88.12 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.67 and a beta of 0.64. 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 firm's fifty day moving average is $225.18 and its 200 day moving average is $228.49.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Waste Management'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, equities 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 declared 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management's dividend payout ratio (DPR) is currently 48.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WM shares. Citigroup reduced their price objective on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. UBS Group upped their target price on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Barclays assumed coverage on Waste Management in a research note on Friday, September 19th. They set an "overweight" rating and a $272.00 target price for the company. Melius began coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. Finally, BMO Capital Markets boosted their target price on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average price target of $255.17.

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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