Cullen Frost Bankers Inc. Decreases Stock Holdings in Waste Management, Inc. $WM

Cullen Frost Bankers Inc. reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,558 shares of the business services provider’s stock after selling 650 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Waste Management were worth $1,501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westend Capital Management LLC boosted its holdings 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 buying an additional 66 shares in the last quarter. Saudi Central Bank acquired a new position in Waste Management during the first quarter worth approximately $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management during the first quarter worth approximately $38,000. New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management in the first quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in shares of Waste Management by 381.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock worth $47,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 0.2%

NYSE WM opened at $216.10 on Friday. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month 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 company has a market capitalization of $87.05 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The company’s fifty day moving average price is $220.13 and its two-hundred day moving average price is $227.09.

Waste Management (NYSE:WM) last posted its quarterly earnings data 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. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $1.82 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given 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 was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is presently 48.96%.

Analyst Upgrades and Downgrades

WM has been the subject of several recent research reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Waste Management in a report on Wednesday, October 8th. CIBC raised their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, June 26th. Oppenheimer lowered their target price on Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus began coverage on Waste Management in a research note on Tuesday, September 30th. They set a “buy” rating and a $252.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $253.00.

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.