FARMERS & MERCHANTS TRUST Co OF LONG BEACH Grows Stock Holdings in Waste Management, Inc. $WM

Key Points

• FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in Waste Management, Inc. by 19.8% during the second quarter, owning 12,490 shares valued at approximately $2.86 million.
• Multiple institutional investors, such as Nuveen LLC and T. Rowe Price Investment Management Inc., have significantly altered their stakes in Waste Management, with T. Rowe Price increasing its position by an astonishing 16,999.3%.
• Waste Management recently announced a $0.825 quarterly dividend, yielding around 1.5%, with a payout ratio of 48.96% and earnings of $1.92 per share reported for the last quarter.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 19.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,490 shares of the business services provider's stock after buying an additional 2,066 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Waste Management were worth $2,858,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WM. Nuveen LLC purchased a new stake in Waste Management during the first quarter worth approximately $333,089,000. Ameriprise Financial Inc. lifted its position in shares of Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Waste Management by 26.9% during the first 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 purchasing an additional 709,557 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Waste Management by 738.2% during the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock worth $175,766,000 after purchasing an additional 668,637 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Waste Management by 16,999.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider's stock worth $153,043,000 after purchasing an additional 657,194 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WM shares. Raymond James Financial boosted their target price on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research report on Monday, June 9th. Scotiabank boosted 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. CIBC boosted 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, William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and an average price target of $255.17.

Waste Management Stock Up 0.7%

Shares of NYSE:WM opened at $218.76 on Monday. The stock has a market capitalization of $88.12 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company's fifty day moving average is $225.18 and its two-hundred day moving average is $228.52. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

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 for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm's revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued 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 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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