Park National Corp OH Sells 3,444 Shares of Waste Management, Inc. $WM

Key Points

• Park National Corp OH reduced its holdings in Waste Management, Inc. by 1.7%, selling 3,444 shares and owning 199,884 shares which are valued at approximately $45.7 million.
• Waste Management announced a quarterly dividend of $0.825 per share, with a 1.5% yield and a payout ratio of 48.96%.
• Analysts have raised their price targets for Waste Management, with UBS Group setting a target of $265.00 and Scotiabank at $275.00, while the average target price among analysts is $254.35.

Park National Corp OH lessened its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,884 shares of the business services provider's stock after selling 3,444 shares during the quarter. Waste Management accounts for approximately 1.5% of Park National Corp OH's investment portfolio, making the stock its 11th biggest holding. Park National Corp OH's holdings in Waste Management were worth $45,737,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WM. Ascent Group LLC grew its position in shares of Waste Management by 0.6% during the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock worth $1,520,000 after buying an additional 44 shares during the period. Insight Wealth Strategies LLC grew its position in shares of Waste Management by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock worth $2,698,000 after buying an additional 44 shares during the period. McAdam LLC grew its position in shares of Waste Management by 3.1% during the 1st quarter. McAdam LLC now owns 1,482 shares of the business services provider's stock worth $343,000 after buying an additional 44 shares during the period. Stonebridge Financial Group LLC grew its position in shares of Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after buying an additional 45 shares during the period. Finally, Formidable Asset Management LLC grew its position in shares of Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after buying an additional 45 shares during the period. Institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 1.0%

Shares of Waste Management stock opened at $218.22 on Friday. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The stock's 50-day simple moving average is $227.06 and its 200 day simple moving average is $229.30. The stock has a market capitalization of $87.91 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.71 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 (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the previous year, the business posted $1.82 EPS. The firm's quarterly revenue was up 19.0% compared to the same quarter last year. 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 year.

Waste Management Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Scotiabank lifted 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 report on Thursday, July 31st. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a research report on Monday, June 9th. 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 research report on Wednesday, July 30th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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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