Iowa State Bank Has $3.05 Million Holdings in Waste Management, Inc. $WM

Key Points

• Iowa State Bank increased its holdings in Waste Management, Inc. by 45.5% in the second quarter, owning 13,310 shares valued at approximately $3.05 million.
• Waste Management's latest earnings report showed an EPS of $1.92, exceeding expectations and up 19.0% from the previous year, with revenue reaching $6.43 billion.
• The company recently announced a quarterly dividend of $0.825, which translates to an annualized yield of 1.5%, with a payout ratio of about 48.96%.

Iowa State Bank grew its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 45.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,310 shares of the business services provider's stock after purchasing an additional 4,162 shares during the period. Iowa State Bank's holdings in Waste Management were worth $3,046,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Westend Capital Management LLC lifted its holdings in shares of 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 period. West Branch Capital LLC raised its holdings in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the period. Saudi Central Bank bought a new stake in shares of Waste Management during the first quarter valued at approximately $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management in the 1st quarter valued at $38,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on WM. CIBC increased their price objective on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Citigroup reduced their target price on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. 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. Finally, Melius assumed coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $255.17.

Waste Management Stock Up 1.3%

Shares of NYSE:WM opened at $219.77 on Monday. The firm has a market capitalization of $88.53 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. 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, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The firm has a fifty day moving average of $224.29 and a 200 day moving average of $228.27.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were 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 was Friday, September 12th. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

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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