Quintet Private Bank Europe S.A. Lowers Position in Waste Management, Inc. $WM

Key Points

• Quintet Private Bank Europe S.A. reduced its stake in Waste Management, Inc. by 7.9% to hold 146,064 shares, making it the 13th biggest position in its investment portfolio.
• Waste Management's stock has a consensus rating of "Moderate Buy" with a target price of $254.35, reflecting analysts' positive outlook.
• The company reported a quarterly earnings per share (EPS) of $1.92, exceeding expectations, with a 19.0% year-over-year revenue increase to $6.43 billion.

Quintet Private Bank Europe S.A. reduced its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 7.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,064 shares of the business services provider's stock after selling 12,563 shares during the quarter. Waste Management comprises about 1.9% of Quintet Private Bank Europe S.A.'s investment portfolio, making the stock its 13th biggest position. Quintet Private Bank Europe S.A.'s holdings in Waste Management were worth $33,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after acquiring an additional 232 shares during the last quarter. Calamos Advisors LLC increased its stake in Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after acquiring an additional 7,751 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after acquiring an additional 24,023 shares during the last quarter. Finally, Ascent Group LLC increased its stake in Waste Management by 89.8% during the first quarter. Ascent Group LLC now owns 14,298 shares of the business services provider's stock worth $3,310,000 after acquiring an additional 6,764 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

WM has been the subject of several recent analyst reports. Melius initiated coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating for the company. Raymond James Financial boosted their target price on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a research report on Thursday, June 26th. UBS Group boosted their target price on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Stock Down 1.0%

Shares of NYSE WM opened at $218.22 on Monday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market capitalization of $87.91 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.68 and a beta of 0.64. The stock has a 50 day moving average price of $227.06 and a 200 day moving average price of $229.30. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $6.43 billion during 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%.Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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