Zions Bancorporation National Association UT Trims Stock Holdings in Waste Management, Inc. $WM

Zions Bancorporation National Association UT lowered its stake in Waste Management, Inc. (NYSE:WM) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,296 shares of the business services provider’s stock after selling 293 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Waste Management were worth $2,127,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Ameriprise Financial Inc. lifted its holdings 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 purchasing an additional 1,239,996 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Waste Management by 1.8% during the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock valued at $941,709,000 after buying an additional 70,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Waste Management by 26.9% in the 1st 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 buying an additional 709,557 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Waste Management by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider’s stock valued at $570,108,000 after acquiring an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Waste Management by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider’s stock valued at $505,137,000 after acquiring an additional 29,715 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank Of Canada decreased their target price on Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “hold (c+)” rating in a research report on Friday. William Blair restated an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Truist Financial set a $260.00 price objective on shares of Waste Management in a report on Wednesday, October 29th. Finally, Raymond James Financial increased their price target on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.44.

Waste Management Price Performance

WM opened at $201.87 on Monday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The business’s fifty day simple moving average is $214.88 and its 200-day simple moving average is $225.21. The company has a market capitalization of $81.33 billion, a price-to-earnings ratio of 31.79, a PEG ratio of 2.51 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36.

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

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.825 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. Waste Management’s payout ratio is currently 51.97%.

About Waste Management

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.