Tobam Sells 1,856 Shares of Waste Management, Inc. $WM

Tobam decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 62.1% in the second quarter, HoldingsChannel reports. The fund owned 1,132 shares of the business services provider’s stock after selling 1,856 shares during the quarter. Tobam’s holdings in Waste Management were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of WM. Ameriprise Financial Inc. increased its holdings in Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares in the last quarter. Northern Trust Corp boosted its holdings 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 purchasing an additional 70,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Waste Management by 26.9% during 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 valued at $774,000,000 after buying an additional 709,557 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Waste Management by 1.5% during the 1st 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 purchasing an additional 29,715 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of recent research reports. CIBC decreased their price target on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. BMO Capital Markets increased 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. Oppenheimer reissued an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a research note on Wednesday, October 29th. JPMorgan Chase & Co. cut their target price on Waste Management from $277.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Truist Financial set a $260.00 price target on Waste Management in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $248.44.

Waste Management Price Performance

WM opened at $203.26 on Wednesday. The business has a fifty day moving average of $213.90 and a 200 day moving average of $224.85. The stock has a market cap of $81.88 billion, a P/E ratio of 32.01, a PEG ratio of 2.51 and a beta of 0.62. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.96 earnings per share. 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 year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 12th. 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.