Waste Management, Inc. $WM Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its stake in Waste Management, Inc. (NYSE:WM) by 11.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,250 shares of the business services provider’s stock after selling 300 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Waste Management were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of WM. Ascent Group LLC raised its holdings in shares of Waste Management by 0.6% during the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock valued at $1,520,000 after acquiring an additional 44 shares during the last quarter. Insight Wealth Strategies LLC raised its holdings in shares of Waste Management by 0.4% during the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock valued at $2,698,000 after acquiring an additional 44 shares during the last quarter. McAdam LLC raised its holdings in shares of Waste Management by 3.1% during the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after acquiring an additional 44 shares during the last quarter. Stonebridge Financial Group LLC raised its holdings in shares of Waste Management by 3.0% during the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after acquiring an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC raised its holdings in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. National Bank Financial raised Waste Management to a “hold” rating in a report on Monday, May 26th. Melius initiated coverage on Waste Management in a research report on Monday, June 9th. They issued a “buy” rating for the company. BMO Capital Markets upped their price target on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Scotiabank upped their price target on Waste Management from $265.00 to $275.00 and gave the company a “sector outperform” rating in a research report on Thursday, July 31st. Finally, UBS Group upped their price target on Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $254.35.

Waste Management Trading Down 0.9%

Shares of Waste Management stock opened at $216.15 on Tuesday. The firm has a market capitalization of $87.07 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 2.68 and a beta of 0.64. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. 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 stock has a 50 day moving average of $226.85 and a 200 day moving average of $229.18.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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. The company 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 firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts predict 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, September 26th. Investors 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 is Friday, September 12th. Waste Management’s dividend payout ratio is presently 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.