NewEdge Advisors LLC Lowers Holdings in Waste Management, Inc. $WM

Key Points

• NewEdge Advisors LLC has reduced its stake in Waste Management, Inc. by 2.4%, selling 1,194 shares to hold a total of 48,729 shares valued at approximately $11.28 million.
• Analysts have generally positive views on Waste Management, with Oppenheimer raising its target price from $260 to $265 and a consensus rating of "Moderate Buy" among analysts.
• Waste Management is set to distribute a quarterly dividend of $0.825 per share on September 26th, which represents a 1.5% yield based on its current share price.

NewEdge Advisors LLC lessened its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,729 shares of the business services provider's stock after selling 1,194 shares during the quarter. NewEdge Advisors LLC's holdings in Waste Management were worth $11,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WM. Brighton Jones LLC raised its position in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Waste Management by 14.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after purchasing an additional 15,974 shares during the period. CoreCap Advisors LLC raised its position in shares of Waste Management by 3.8% during the 4th quarter. CoreCap Advisors LLC now owns 3,264 shares of the business services provider's stock valued at $659,000 after purchasing an additional 119 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Waste Management by 30.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 292,967 shares of the business services provider's stock valued at $59,118,000 after purchasing an additional 68,717 shares during the period. Finally, Fiduciary Trust Co raised its position in shares of Waste Management by 16.4% during the 4th quarter. Fiduciary Trust Co now owns 14,423 shares of the business services provider's stock valued at $2,911,000 after purchasing an additional 2,029 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Shares of Waste Management stock traded down $1.49 during trading hours on Wednesday, reaching $217.67. The company's stock had a trading volume of 1,183,396 shares, compared to its average volume of 1,715,270. The firm has a 50 day moving average price of $227.46 and a 200-day moving average price of $229.53. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market cap of $87.68 billion, a P/E ratio of 32.30, a P/E/G ratio of 2.69 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted 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. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm posted $1.82 EPS. The business'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, analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.825 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management's payout ratio is presently 48.96%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WM. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a report on Monday, June 9th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a report on Thursday, June 26th. Finally, BMO Capital Markets lifted their price target on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

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.