Exeter Financial LLC Sells 4,773 Shares of Waste Management, Inc. $WM

Key Points

• Exeter Financial LLC reduced its stake in Waste Management, Inc. by 26.0%, selling 4,773 shares and maintaining a holding of 13,584 shares, which now represent 1.4% of its portfolio.
• Waste Management reported $1.92 earnings per share for the latest quarter, surpassing analysts' expectations and showing a 19.0% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.825, which will contribute to an annualized yield of 1.5%, with payment set for September 26th.

Exeter Financial LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 26.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,584 shares of the business services provider's stock after selling 4,773 shares during the period. Waste Management accounts for about 1.4% of Exeter Financial LLC's portfolio, making the stock its 28th biggest position. Exeter Financial LLC's holdings in Waste Management were worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Retirement Guys Formula LLC increased its stake in Waste Management by 8.6% during the 2nd quarter. Retirement Guys Formula LLC now owns 5,003 shares of the business services provider's stock worth $1,145,000 after acquiring an additional 396 shares during the period. McAdam LLC increased its stake in Waste Management by 5.4% during the 2nd quarter. McAdam LLC now owns 1,562 shares of the business services provider's stock worth $357,000 after acquiring an additional 80 shares during the period. Beacon Investment Advisory Services Inc. bought a new position in Waste Management during the 2nd quarter worth $6,290,000. Harrell Investment Partners LLC bought a new position in Waste Management during the 2nd quarter worth $530,000. Finally, Lynch & Associates IN bought a new position in shares of Waste Management in the 2nd quarter valued at $705,000. Institutional investors own 80.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Scotiabank lifted their price target on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. BMO Capital Markets lifted their price target on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Barclays assumed coverage on Waste Management in a research note on Friday, September 19th. They issued an "overweight" rating and a $272.00 price target on the stock. Finally, William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $255.17.

Waste Management Price Performance

Shares of WM opened at $219.48 on Thursday. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The business has a 50-day simple moving average of $225.51 and a two-hundred day simple moving average of $228.56. 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 stock has a market cap of $88.41 billion, a PE ratio of 32.56, a PEG ratio of 2.67 and a beta of 0.64.

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

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's payout ratio is 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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