SouthState Corp Buys 974 Shares of Waste Management, Inc. $WM

SouthState Corp raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 17.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,538 shares of the business services provider’s stock after acquiring an additional 974 shares during the quarter. SouthState Corp’s holdings in Waste Management were worth $1,496,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Saudi Central Bank bought a new stake in Waste Management during the first quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new position in shares of Waste Management in the 1st quarter worth approximately $38,000. Wealth Watch Advisors INC bought a new stake in Waste Management during the 2nd quarter worth approximately $43,000. New Age Alpha Advisors LLC bought a new stake in Waste Management during the 1st quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the topic of several research analyst reports. William Blair restated an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Cowen reissued a “buy” rating on shares of Waste Management in a report on Wednesday, October 29th. Citigroup boosted their target price on shares of Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a research note on Wednesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $262.00 price objective on shares of Waste Management in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen 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 an average rating of “Moderate Buy” and an average target price of $248.44.

Waste Management Stock Down 0.5%

Shares of NYSE:WM opened at $199.48 on Friday. The company has a 50 day moving average of $215.37 and a 200-day moving average of $225.45. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The stock has a market cap of $80.36 billion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.7%. Waste Management’s dividend payout ratio is presently 51.97%.

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.