Kennebec Savings Bank Reduces Position in Waste Management, Inc. $WM

Kennebec Savings Bank lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 28.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 150 shares of the business services provider’s stock after selling 61 shares during the quarter. Kennebec Savings Bank’s holdings in Waste Management were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. McAdam LLC boosted its holdings in Waste Management by 3.1% in the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after acquiring an additional 44 shares during the last quarter. Stonebridge Financial Group LLC boosted its holdings in Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after acquiring an additional 45 shares during the last quarter. Formidable Asset Management LLC boosted its holdings in Waste Management by 2.0% in the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after acquiring an additional 45 shares during the last quarter. KRS Capital Management LLC boosted its holdings in Waste Management by 3.1% in the first quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 46 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Waste Management by 3.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WM shares. CIBC boosted their price objective on Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, June 26th. Royal Bank Of Canada restated a “sector perform” rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Barclays started coverage on Waste Management in a research note on Friday, September 19th. They set an “overweight” rating and a $272.00 price objective on the stock. Oppenheimer boosted their price objective on Waste Management from $260.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Citigroup reduced their price objective on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.17.

Waste Management Stock Down 0.3%

NYSE:WM opened at $220.10 on Thursday. The firm has a market capitalization of $88.66 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. The stock has a 50 day moving average of $224.77 and a 200-day moving average of $228.37. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM) last posted its earnings results 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 company 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 business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s dividend payout ratio is 48.96%.

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.