Waste Management, Inc. $WM Shares Bought by Simmons Bank

Simmons Bank grew its position in shares of Waste Management, Inc. (NYSE:WM) by 507.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,631 shares of the business services provider’s stock after acquiring an additional 13,056 shares during the quarter. Simmons Bank’s holdings in Waste Management were worth $3,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Saudi Central Bank acquired a new stake in Waste Management during the first quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Waste Management in the first quarter valued at about $38,000. Wealth Watch Advisors INC acquired a new stake in shares of Waste Management in the second quarter valued at about $43,000. New Age Alpha Advisors LLC acquired a new stake in shares of Waste Management in the first quarter valued at about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Waste Management by 381.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after buying an additional 160 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Up 1.9%

Shares of WM opened at $200.48 on Wednesday. The company has a market capitalization of $80.77 billion, a P/E ratio of 31.57, a P/E/G ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84. The stock has a 50-day moving average price of $216.38 and a 200 day moving average price of $225.80.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is currently 51.97%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WM. UBS Group lowered their target price on Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Oppenheimer reiterated an “outperform” rating and issued a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Scotiabank lowered their target price on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 29th. Truist Financial set a $260.00 target price on Waste Management in a research note on Wednesday, October 29th. Finally, William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $248.44.

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.