Nixon Peabody Trust Co. Lowers Stock Position in Waste Management, Inc. $WM

Nixon Peabody Trust Co. decreased its position in Waste Management, Inc. (NYSE:WM) by 34.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,978 shares of the business services provider’s stock after selling 25,422 shares during the period. Nixon Peabody Trust Co.’s holdings in Waste Management were worth $11,207,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Intrua Financial LLC increased its stake in shares of Waste Management by 2.0% in the 2nd quarter. Intrua Financial LLC now owns 2,591 shares of the business services provider’s stock valued at $593,000 after purchasing an additional 52 shares in the last quarter. Good Life Advisors LLC grew its holdings in Waste Management by 3.3% in the second quarter. Good Life Advisors LLC now owns 3,256 shares of the business services provider’s stock valued at $745,000 after purchasing an additional 103 shares during the period. WASHINGTON TRUST Co increased its position in shares of Waste Management by 1.7% in the second quarter. WASHINGTON TRUST Co now owns 51,931 shares of the business services provider’s stock valued at $11,883,000 after buying an additional 891 shares in the last quarter. ABN Amro Investment Solutions acquired a new position in shares of Waste Management during the 2nd quarter worth approximately $94,796,000. Finally, Geode Capital Management LLC lifted its position in shares of Waste Management by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after buying an additional 126,329 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank Of Canada cut their price target on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Barclays lowered their price objective on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. National Bankshares decreased their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 7th. Robert W. Baird upgraded Waste Management from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $238.00 to $242.00 in a research report on Tuesday, November 4th. Finally, Cowen reaffirmed a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Three 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 stock. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $248.79.

Waste Management Trading Up 0.4%

Shares of WM opened at $204.55 on Friday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The firm has a market capitalization of $82.41 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.51 and a beta of 0.62. The firm has a 50-day moving average price of $213.09 and a 200 day moving average price of $224.56. 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 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, December 5th. 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.