Waste Management, Inc. $WM Stake Boosted by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Waste Management, Inc. by 62.9% in Q2, owning approximately 0.07% of the company's stock valued at $61.3 million after adding over 100,000 shares.
• Wall Street analysts have mixed ratings for Waste Management, with target prices ranging from $256.00 to $275.00, and a consensus rating of "Moderate Buy".
• Waste Management recently declared a quarterly dividend of $0.825 per share, representing an annualized dividend yield of 1.5%.

Truist Financial Corp increased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 62.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,033 shares of the business services provider's stock after purchasing an additional 103,487 shares during the quarter. Truist Financial Corp owned approximately 0.07% of Waste Management worth $61,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Westend Capital Management LLC grew its stake in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. West Branch Capital LLC grew its stake in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Saudi Central Bank purchased a new position in Waste Management during the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new position in Waste Management during the 1st quarter valued at about $38,000. Finally, New Age Alpha Advisors LLC purchased a new position in Waste Management during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James Financial lifted their target price on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Citigroup reduced their price target on Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a report on Monday, June 9th. Melius began coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating for the company. Finally, Scotiabank lifted their price target on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $255.17.

Waste Management Stock Down 0.3%

WM opened at $220.10 on Thursday. The business has a 50 day moving average price of $224.77 and a 200 day moving average price of $228.37. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $88.66 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the company earned $1.82 EPS. The company's revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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