Trust Co. of Toledo NA OH Sells 1,211 Shares of Waste Management, Inc. $WM

Key Points

• Trust Co. of Toledo NA OH has reduced its stake in Waste Management, Inc. by 5.5%, selling 1,211 shares in the second quarter, leaving it with a total of 20,955 shares valued at approximately $4.8 million.
• Wall Street analysts have maintained a generally positive outlook on Waste Management, with a consensus rating of "Moderate Buy" and a target price estimate around $254.32.
• Waste Management reported a 19% year-over-year increase in quarterly revenue, earning $1.92 per share, which exceeds analysts' expectations.

Trust Co. of Toledo NA OH lowered its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,955 shares of the business services provider's stock after selling 1,211 shares during the quarter. Trust Co. of Toledo NA OH's holdings in Waste Management were worth $4,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. McAdam LLC lifted its position in Waste Management by 3.1% during the first quarter. McAdam LLC now owns 1,482 shares of the business services provider's stock valued at $343,000 after purchasing an additional 44 shares during the last quarter. Stonebridge Financial Group LLC lifted its holdings 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 acquiring an additional 45 shares during the last quarter. Formidable Asset Management LLC lifted its holdings 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 acquiring an additional 45 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Waste Management by 3.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider's stock worth $349,000 after purchasing an additional 46 shares during the last quarter. Finally, Tandem Capital Management Corp ADV lifted its stake in Waste Management by 0.7% during the first quarter. Tandem Capital Management Corp ADV now owns 6,614 shares of the business services provider's stock worth $1,531,000 after purchasing an additional 47 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WM. William Blair restated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Stifel Nicolaus started coverage on shares of Waste Management in a report on Tuesday, September 30th. They issued a "buy" rating and a $252.00 price objective for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Waste Management in a research note on Wednesday. Oppenheimer lowered their price target on shares of Waste Management from $265.00 to $262.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, 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 note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and a consensus target price of $254.32.

Waste Management Stock Up 0.7%

Shares of NYSE:WM opened at $219.09 on Friday. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The firm has a market capitalization of $88.26 billion, a P/E ratio of 32.51, a P/E/G ratio of 2.68 and a beta of 0.64. The stock has a 50 day moving average price of $223.04 and a 200-day moving average price of $227.98. 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 posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management's dividend payout ratio (DPR) is currently 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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