Thomasville National Bank Reduces Holdings in Waste Management, Inc. $WM

Thomasville National Bank trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM) by 23.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,513 shares of the business services provider’s stock after selling 763 shares during the quarter. Thomasville National Bank’s holdings in Waste Management were worth $575,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WM. Westend Capital Management LLC grew its position in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock valued at $27,000 after buying an additional 66 shares during the period. West Branch Capital LLC lifted its position in shares of Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares in the last quarter. Saudi Central Bank purchased a new position in shares of Waste Management during the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management during the 1st quarter valued at about $38,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter valued at about $45,000. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Barclays assumed coverage on Waste Management in a research report on Friday. They set an “overweight” rating and a $272.00 price objective on the stock. UBS Group lifted their price objective on Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Citigroup lowered their price objective on Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Scotiabank boosted their price target on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. Finally, BMO Capital Markets boosted their price target on Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.17.

Waste Management Stock Performance

NYSE WM opened at $216.66 on Friday. The company has a market cap of $87.28 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.65 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The business’s 50 day moving average price is $226.04 and its 200-day moving average price is $228.76. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

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

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is 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.