City Holding Co. Has $11.55 Million Stake in Waste Management, Inc. $WM

City Holding Co. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,492 shares of the business services provider’s stock after buying an additional 1,569 shares during the period. Waste Management makes up 1.5% of City Holding Co.’s investment portfolio, making the stock its 11th largest holding. City Holding Co.’s holdings in Waste Management were worth $11,553,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted 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 worth $1,233,240,000 after purchasing an additional 1,239,996 shares during the period. Northern Trust Corp increased its position in 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Waste Management by 26.9% during 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 valued at $774,000,000 after buying an additional 709,557 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 36,836 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Waste Management by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider’s stock worth $505,137,000 after buying an additional 29,715 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup lowered their target price on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a report on Tuesday, September 16th. Oppenheimer lifted their target price on Waste Management from $260.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Barclays began coverage on Waste Management in a research note on Friday, September 19th. They set an “overweight” rating and a $272.00 price objective for the company. Scotiabank increased their price target on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 31st. Finally, UBS Group lifted their price target on Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Two 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $255.17.

Waste Management Stock Performance

Waste Management stock opened at $218.76 on Friday. The firm has a 50 day simple moving average of $225.18 and a 200-day simple moving average of $228.49. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a market cap of $88.12 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58.

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

Waste Management Dividend Announcement

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