Waste Management, Inc. $WM Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio has decreased its holdings in Waste Management, Inc. by 9.6%, now owning 152,566 shares valued at approximately $34.9 million.
• Wall Street analysts maintain a positive outlook for Waste Management, with an average price target of $255.17 and a consensus rating of "Moderate Buy".
• Waste Management recently declared a quarterly dividend of $0.825, translating to an annualized yield of 1.5%.

Public Employees Retirement System of Ohio reduced its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 9.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,566 shares of the business services provider's stock after selling 16,182 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Waste Management were worth $34,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Westend Capital Management LLC increased its stake in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares during the last quarter. West Branch Capital LLC increased its stake in Waste Management by 69.0% during the first 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 last quarter. Saudi Central Bank acquired a new stake in Waste Management during the first quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management during the first quarter worth about $38,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Waste Management during the first quarter worth about $45,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Oppenheimer upped their price target on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. 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. Melius assumed coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. Barclays assumed coverage on Waste Management in a research report on Friday, September 19th. They issued an "overweight" rating and a $272.00 target price for the company. Finally, UBS Group upped their target price on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average price target of $255.17.

Waste Management Price Performance

Shares of NYSE WM opened at $219.48 on Thursday. The company has a market capitalization of $88.41 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 2.67 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. 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 business has a 50-day moving average of $225.51 and a 200-day moving average of $228.56.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The firm 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%.Waste Management's revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. 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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