Patten & Patten Inc. TN Sells 80 Shares of Waste Management, Inc. $WM

Patten & Patten Inc. TN cut its holdings in Waste Management, Inc. (NYSE:WM) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 991 shares of the business services provider’s stock after selling 80 shares during the period. Patten & Patten Inc. TN’s holdings in Waste Management were worth $227,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC increased its stake 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 valued at $395,512,000 after acquiring an additional 1,717,603 shares during the period. Nuveen LLC bought a new position in Waste Management during the first quarter valued at about $333,089,000. Ameriprise Financial Inc. increased its stake 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 valued at $1,233,240,000 after acquiring an additional 1,239,996 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 valued at $774,000,000 after acquiring an additional 709,557 shares during the period. Finally, Voya Investment Management LLC increased its stake 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 valued at $175,766,000 after acquiring an additional 668,637 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WM. Stifel Nicolaus began coverage on Waste Management in a research note on Tuesday, September 30th. They set a “buy” rating and a $252.00 price target on the stock. National Bankshares lowered their price target on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 7th. Citigroup lowered their price objective on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Oppenheimer lowered their price objective on Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Finally, Erste Group Bank lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Waste Management Stock Down 0.3%

Shares of WM opened at $212.99 on Friday. The company has a market capitalization of $85.80 billion, a P/E ratio of 31.60, a PEG ratio of 2.63 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, Inc. has a one year low of $199.69 and a one year high of $242.58. The business’s 50 day simple moving average is $221.79 and its 200-day simple moving average is $227.59.

Waste Management (NYSE:WM) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion for 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 was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s payout ratio is presently 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.