Carnegie Investment Counsel Sells 283 Shares of Waste Management, Inc. $WM

Carnegie Investment Counsel cut its stake in Waste Management, Inc. (NYSE:WM) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,517 shares of the business services provider’s stock after selling 283 shares during the quarter. Carnegie Investment Counsel’s holdings in Waste Management were worth $10,415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in shares of Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock valued at $1,233,240,000 after acquiring an additional 1,239,996 shares during the period. Northern Trust Corp grew its stake 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 worth $941,709,000 after buying an additional 70,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Waste Management by 26.9% during the 1st 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 worth $774,000,000 after buying an additional 709,557 shares during the last quarter. Dimensional Fund Advisors LP grew 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 worth $570,108,000 after buying an additional 36,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Waste Management by 1.4% during 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 currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WM has been the topic of several research analyst reports. Citigroup dropped their target price 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. National Bankshares lowered their price target on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. UBS Group lowered their price target on Waste Management from $265.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, October 16th. Scotiabank lifted their price target on Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Waste Management in a research report on Friday. Two research 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $253.00.

Waste Management Price Performance

Shares of Waste Management stock opened at $214.56 on Friday. The business has a 50 day simple moving average of $219.89 and a two-hundred day simple moving average of $227.08. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock has a market capitalization of $86.43 billion, a P/E ratio of 31.83, a PEG ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. The business 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 business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is currently 48.96%.

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.