Shell Asset Management Co. Reduces Holdings in Waste Management, Inc. $WM

Shell Asset Management Co. decreased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,404 shares of the business services provider's stock after selling 1,244 shares during the period. Shell Asset Management Co.'s holdings in Waste Management were worth $3,982,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WM. Valeo Financial Advisors LLC increased its stake in Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider's stock worth $395,512,000 after buying an additional 1,717,603 shares during the period. Nuveen LLC purchased a new stake in Waste Management during the 1st quarter worth $333,089,000. Ameriprise Financial Inc. increased its position in shares of Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Waste Management by 26.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock worth $774,000,000 after purchasing an additional 709,557 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Waste Management by 738.2% in the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock worth $175,766,000 after purchasing an additional 668,637 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

WM has been the subject of several research analyst reports. Erste Group Bank downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Scotiabank boosted their target price on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. BMO Capital Markets boosted their target price on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Raymond James Financial boosted their target price on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Barclays initiated coverage on shares of Waste Management in a research report on Friday, September 19th. They set an "overweight" rating and a $272.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $254.53.

Waste Management Price Performance

Shares of NYSE:WM opened at $217.54 on Wednesday. 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 firm has a 50-day simple moving average of $223.72 and a 200 day simple moving average of $228.15. The company has a market cap of $87.63 billion, a PE ratio of 32.28, a P/E/G ratio of 2.66 and a beta of 0.64. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

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 (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 net margin of 11.36% and a return on equity of 34.37%. Waste Management's revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

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.

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