NorthCrest Asset Manangement LLC Sells 703 Shares of Waste Management, Inc. $WM

NorthCrest Asset Manangement LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,344 shares of the business services provider’s stock after selling 703 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Waste Management were worth $18,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WM. GAMMA Investing LLC grew its position in Waste Management by 26,095.2% during the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock valued at $442,038,000 after acquiring an additional 1,902,081 shares during the last quarter. Nuveen LLC bought a new position in Waste Management during the first quarter valued at approximately $333,089,000. Ameriprise Financial Inc. grew its position 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of 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 during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $215.64 on Thursday. 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 firm has a market capitalization of $86.87 billion, a P/E ratio of 31.99, a P/E/G ratio of 2.62 and a beta of 0.64. The business has a fifty day simple moving average of $226.42 and a two-hundred day simple moving average of $228.99. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given 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 is Friday, September 12th. Waste Management’s payout ratio is currently 48.96%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WM. Oppenheimer raised their target price on shares of Waste Management from $260.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Raymond James Financial raised their target price on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Erste Group Bank cut shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. National Bank Financial upgraded shares of Waste Management to a “hold” rating in a report on Monday, May 26th. Finally, BMO Capital Markets lifted their price target on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $254.18.

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.