Tompkins Financial Corp Sells 3,036 Shares of Waste Management, Inc. $WM

Key Points

• Tompkins Financial Corp has reduced its holdings in Waste Management, Inc. by 4.5%, selling 3,036 shares in the second quarter, now owning 64,649 shares worth approximately $14.79 million.
• Various institutional investors are actively trading Waste Management, with 80.40% of the stock held by these investors, indicating significant institutional interest.
• Waste Management's latest quarterly earnings exceeded expectations, reporting $1.92 EPS and revenues of $6.43 billion, marking a year-over-year revenue increase of 19%.

Tompkins Financial Corp lowered its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 4.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,649 shares of the business services provider's stock after selling 3,036 shares during the quarter. Waste Management comprises 1.4% of Tompkins Financial Corp's holdings, making the stock its 19th biggest position. Tompkins Financial Corp's holdings in Waste Management were worth $14,793,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Westend Capital Management LLC grew its position 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 purchasing an additional 66 shares in the last quarter. West Branch Capital LLC increased its stake in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after acquiring an additional 49 shares during the period. Saudi Central Bank bought a new stake in shares of Waste Management during the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Waste Management during the 1st quarter worth $38,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Waste Management in the first quarter worth $45,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WM. Raymond James Financial increased their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. William Blair reiterated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Melius assumed coverage on Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. Finally, BMO Capital Markets lifted their price target on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $254.18.

Waste Management Stock Performance

NYSE:WM opened at $215.64 on Thursday. The stock's 50-day moving average is $226.42 and its 200-day moving average is $228.99. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a market cap of $86.87 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

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

Waste Management Company 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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