Nixon Peabody Trust Co. Decreases Stake in Waste Management, Inc. $WM

Nixon Peabody Trust Co. lessened its position in shares of Waste Management, Inc. (NYSE:WM) by 34.2% in the 2nd quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Valeo Financial Advisors LLC lifted its holdings in Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after buying an additional 1,717,603 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Waste Management during the 1st quarter worth about $333,089,000. Ameriprise Financial Inc. lifted its stake 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 valued at $774,000,000 after purchasing an additional 709,557 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in 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 valued at $175,766,000 after purchasing an additional 668,637 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WM. Scotiabank lowered their target price on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 29th. Cowen restated a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Erste Group Bank lowered Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Finally, Raymond James Financial raised their price target on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.79.

Waste Management Stock Up 0.4%

Waste Management stock opened at $204.55 on Friday. The stock has a market capitalization of $82.41 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.51 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36. The stock has a 50 day moving average of $213.09 and a two-hundred day moving average of $224.56. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly 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 company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.Waste Management’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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