US Bancorp DE Sells 6,717 Shares of Waste Management, Inc. $WM

Key Points

• US Bancorp DE reduced its stake in Waste Management, Inc. by 3.1%, selling 6,717 shares in the second quarter, leaving it with 210,587 shares valued at approximately $48.2 million.
• Analysts have revised price targets for Waste Management, with Citigroup lowering their target from $275 to $268, while others like Scotiabank increased their target from $265 to $275.
• Waste Management recently reported quarterly earnings of $1.92 per share, exceeding analyst estimates, and announced a $0.825 quarterly dividend with a yield of 1.5%.

US Bancorp DE trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,587 shares of the business services provider's stock after selling 6,717 shares during the quarter. US Bancorp DE owned 0.05% of Waste Management worth $48,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WM. McAdam LLC grew its holdings 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 acquiring an additional 44 shares during the period. Stonebridge Financial Group LLC grew 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 period. Formidable Asset Management LLC grew 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 period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Waste Management by 3.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider's stock worth $349,000 after acquiring an additional 46 shares during the period. Finally, Tandem Capital Management Corp ADV grew its holdings in shares of Waste Management by 0.7% during the 1st quarter. Tandem Capital Management Corp ADV now owns 6,614 shares of the business services provider's stock worth $1,531,000 after acquiring an additional 47 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup reduced their target price on Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Stifel Nicolaus assumed coverage on Waste Management in a research note on Tuesday, September 30th. They issued a "buy" rating and a $252.00 price target on the stock. BMO Capital Markets upped their price target on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 30th. National Bankshares cut their price target on Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research note on Tuesday. Finally, Scotiabank upped their price target on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and an average target price of $254.32.

Waste Management Stock Performance

WM stock opened at $217.56 on Friday. The stock has a market capitalization of $87.64 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month 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's 50 day simple moving average is $223.24 and its 200 day simple moving average is $228.03.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend 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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