Vanguard Personalized Indexing Management LLC Boosts Position in Waste Management, Inc. $WM

Key Points

• Vanguard Personalized Indexing Management LLC increased its position in Waste Management, Inc. by 19.4%, holding 57,287 shares valued at $13.1 million as of the end of the second quarter.
• Institutional investors and hedge funds collectively own 80.40% of Waste Management's stock, indicating strong institutional interest in the company.
• Scotiabank raised its price target for Waste Management from $265.00 to $275.00 while giving it a "sector outperform" rating, reflecting positive analyst sentiment about the stock.

Vanguard Personalized Indexing Management LLC increased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 19.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,287 shares of the business services provider's stock after purchasing an additional 9,305 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Waste Management were worth $13,111,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WM. Valeo Financial Advisors LLC increased its position in Waste Management by 15,782.4% during the second 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 acquired a new position in Waste Management during the first quarter worth approximately $333,089,000. Ameriprise Financial Inc. increased its position in Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after buying an additional 1,239,996 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Waste Management by 26.9% during the first 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 buying an additional 709,557 shares during the period. Finally, Voya Investment Management LLC increased its position in Waste Management by 738.2% during the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock worth $175,766,000 after buying an additional 668,637 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on WM shares. Scotiabank lifted their price target on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus assumed coverage on Waste Management in a report on Tuesday, September 30th. They issued a "buy" rating and a $252.00 target price on the stock. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a report on Thursday, September 11th. National Bankshares dropped their target price on Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 7th. Finally, Barclays dropped their target price on Waste Management from $272.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, Waste Management currently has a consensus rating of "Moderate Buy" and an average price target of $254.32.

Waste Management Trading Up 0.7%

Shares of WM stock opened at $219.09 on Friday. The business's fifty day moving average price is $223.04 and its 200 day moving average price is $227.97. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The firm has a market capitalization of $88.26 billion, a PE ratio of 32.51, a P/E/G ratio of 2.70 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued 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 dividend payout ratio is currently 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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