First Hawaiian Bank Has $341,000 Stock Position in Waste Management, Inc. $WM

Key Points

• First Hawaiian Bank significantly reduced its stake in Waste Management, Inc. by 79.6%, owning only 1,472 shares valued at $341,000 at the end of the first quarter.
• Waste Management reported a quarterly earnings per share of $1.92, exceeding expectations and indicating a 19% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.825 per share, representing an annual yield of 1.5%, with the dividend payment scheduled for September 26th.

First Hawaiian Bank lowered its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 79.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,472 shares of the business services provider's stock after selling 5,735 shares during the quarter. First Hawaiian Bank's holdings in Waste Management were worth $341,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WM. Westend Capital Management LLC boosted its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares during the last quarter. West Branch Capital LLC grew its stake in shares of Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after buying an additional 49 shares in the last quarter. Saudi Central Bank acquired a new position in Waste Management during the first quarter worth $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management in the first quarter valued at $38,000. Finally, Adalta Capital Management LLC acquired a new stake in Waste Management in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Trading Down 0.9%

WM opened at $216.15 on Tuesday. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a 50-day simple moving average of $226.85 and a 200 day simple moving average of $229.18. 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 capitalization of $87.07 billion, a price-to-earnings ratio of 32.07, a P/E/G ratio of 2.68 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share 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 during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. Waste Management's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced 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 yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's payout ratio is currently 48.96%.

Wall Street Analyst Weigh In

A number of analysts have commented on WM shares. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Scotiabank increased their price target on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. CIBC increased their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, Melius started coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $254.35.

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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