Eastern Bank Raises Stock Position in Waste Management, Inc. $WM

Eastern Bank increased its stake in Waste Management, Inc. (NYSE:WM) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,636 shares of the business services provider’s stock after purchasing an additional 6,268 shares during the quarter. Eastern Bank’s holdings in Waste Management were worth $45,910,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC boosted its stake in shares of 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 acquiring an additional 1,717,603 shares during the last quarter. Nuveen LLC purchased a new position in shares of Waste Management during the 1st quarter worth $333,089,000. Ameriprise Financial Inc. boosted its stake in shares of Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 valued at $774,000,000 after buying an additional 709,557 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Waste Management by 738.2% during the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider’s stock valued at $175,766,000 after buying an additional 668,637 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank lifted their price target on shares of Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a report on Thursday, July 31st. Citigroup reduced their price target 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. BMO Capital Markets lifted their price target on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday, July 30th. CIBC lifted their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, June 26th. Finally, UBS Group lifted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.32.

Waste Management Price Performance

WM stock opened at $219.09 on Friday. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month 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. The company has a 50-day moving average price of $223.04 and a 200 day moving average price of $227.98. The stock has a market cap of $88.26 billion, a PE ratio of 32.51, a P/E/G ratio of 2.68 and a beta of 0.64.

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

Waste Management Announces Dividend

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

Waste Management Company 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.