Waste Management, Inc. $WM Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its position in Waste Management, Inc. (NYSE:WM) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,023 shares of the business services provider’s stock after selling 2,150 shares during the quarter. Waste Management accounts for approximately 1.1% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 28th largest position. Stock Yards Bank & Trust Co.’s holdings in Waste Management were worth $34,328,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Empowered Funds LLC boosted its position in Waste Management by 82.9% during the 1st quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock valued at $5,248,000 after purchasing an additional 10,272 shares during the period. Zevenbergen Capital Investments LLC boosted its position in Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after purchasing an additional 2,200 shares during the period. BROOKFIELD Corp ON boosted its position in Waste Management by 25.1% during the 1st quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock valued at $4,661,000 after purchasing an additional 4,043 shares during the period. Finally, Czech National Bank boosted its position in Waste Management by 6.7% during the 2nd quarter. Czech National Bank now owns 89,510 shares of the business services provider’s stock valued at $20,482,000 after purchasing an additional 5,620 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on WM. UBS Group boosted their price objective on Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. CIBC boosted their price target on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, June 26th. Scotiabank boosted 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. Melius began coverage on Waste Management in a research report on Monday, June 9th. They set a “buy” rating for the company. Finally, Citigroup reduced their price target on Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $255.17.

Waste Management Stock Up 1.3%

Shares of Waste Management stock opened at $219.77 on Friday. The stock’s fifty day moving average is $224.29 and its 200-day moving average is $228.25. The firm has a market capitalization of $88.53 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.

Waste Management (NYSE:WM) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.825 per share. The ex-dividend date of this dividend 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 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.