Palmer Knight Co Decreases Stake in Waste Management, Inc. $WM

Palmer Knight Co lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,208 shares of the business services provider’s stock after selling 150 shares during the quarter. Waste Management makes up 3.8% of Palmer Knight Co’s holdings, making the stock its 6th biggest holding. Palmer Knight Co’s holdings in Waste Management were worth $8,972,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. McAdam LLC grew its stake 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 worth $343,000 after buying an additional 44 shares during the last quarter. Stonebridge Financial Group LLC grew its stake 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 worth $355,000 after buying an additional 45 shares during the last quarter. Formidable Asset Management LLC grew its stake 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 worth $536,000 after buying an additional 45 shares during the last quarter. Harbour Trust & Investment Management Co grew its stake in shares of Waste Management by 1.1% in the second quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock worth $943,000 after purchasing an additional 45 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Waste Management by 3.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock worth $349,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on WM shares. Raymond James Financial boosted their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Citigroup reduced their price objective on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Erste Group Bank cut shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. William Blair reissued an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Finally, Scotiabank boosted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $253.00.

Waste Management Price Performance

WM stock opened at $215.59 on Friday. The firm has a market cap of $86.85 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.65 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company’s fifty day simple moving average is $221.39 and its 200 day simple moving average is $227.42.

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

Waste Management Announces Dividend

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