Waste Management, Inc. $WM Shares Bought by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC increased its investment in Waste Management, Inc. by 1.0% in Q2, holding 194,343 shares valued at approximately $44.47 million.
• Waste Management reported a quarterly EPS of $1.92, exceeding analysts' expectations and achieving a 19.0% revenue growth compared to the previous year.
• Analysts have set a consensus price target of $253.00 for Waste Management, with several rating the stock as a "Moderate Buy".

Chevy Chase Trust Holdings LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 194,343 shares of the business services provider's stock after buying an additional 1,941 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Waste Management were worth $44,470,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Stratos Wealth Advisors LLC grew its position in shares of Waste Management by 8.6% in the second quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the business services provider's stock valued at $513,000 after purchasing an additional 178 shares during the period. Private Trust Co. NA grew its position in shares of Waste Management by 3.9% in the second quarter. Private Trust Co. NA now owns 8,518 shares of the business services provider's stock valued at $1,949,000 after purchasing an additional 323 shares during the period. Angeles Wealth Management LLC grew its position in shares of Waste Management by 35.2% in the second quarter. Angeles Wealth Management LLC now owns 5,292 shares of the business services provider's stock valued at $1,211,000 after purchasing an additional 1,379 shares during the period. Mine & Arao Wealth Creation & Management LLC. grew its position in shares of Waste Management by 8.0% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 3,813 shares of the business services provider's stock valued at $873,000 after purchasing an additional 284 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services grew its position in shares of Waste Management by 0.4% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 19,430 shares of the business services provider's stock valued at $4,446,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 80.40% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on WM shares. CIBC lifted their target price on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Oppenheimer decreased their price target on shares of Waste Management from $265.00 to $262.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Scotiabank raised their price target on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets raised their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 30th. Two investment 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

Waste Management Price Performance

Shares of WM stock opened at $215.59 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The firm's 50-day moving average is $221.39 and its two-hundred day moving average is $227.47. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The company has a market capitalization of $86.85 billion, a PE 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 earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. Waste Management's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management's payout ratio 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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