Bessemer Group Inc. Sells 1,106 Shares of Waste Management, Inc. $WM

Bessemer Group Inc. lessened its stake in Waste Management, Inc. (NYSE:WM) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 589,242 shares of the business services provider’s stock after selling 1,106 shares during the period. Bessemer Group Inc.’s holdings in Waste Management were worth $134,830,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WM. Valeo Financial Advisors LLC lifted its stake in shares of Waste Management by 15,782.4% in 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 buying an additional 1,717,603 shares during the period. Nuveen LLC acquired a new position in Waste Management in the first quarter worth about $333,089,000. Ameriprise Financial Inc. raised its position in Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Waste Management by 26.9% in 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 worth $774,000,000 after purchasing an additional 709,557 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Waste Management by 738.2% in the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider’s stock worth $175,766,000 after purchasing an additional 668,637 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $213.69 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $86.08 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64. The firm has a 50 day moving average of $219.68 and a 200-day moving average of $227.10. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The company had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. 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 dividend payout ratio (DPR) is currently 48.96%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. National Bankshares dropped their price target on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Citigroup dropped their price target on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Stifel Nicolaus assumed coverage on shares of Waste Management in a research report on Tuesday, September 30th. They issued a “buy” rating and a $252.00 price target for the company. Barclays cut their target price on shares of Waste Management from $272.00 to $271.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Finally, Erste Group Bank cut shares of 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 given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.