Bahl & Gaynor Inc. Lowers Stake in Waste Management, Inc. $WM

Bahl & Gaynor Inc. cut its stake in Waste Management, Inc. (NYSE:WM) by 13.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 447,762 shares of the business services provider’s stock after selling 67,029 shares during the period. Bahl & Gaynor Inc. owned about 0.11% of Waste Management worth $102,457,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Saudi Central Bank bought a new position in shares of Waste Management during the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management in the first quarter worth approximately $38,000. Wealth Watch Advisors INC bought a new position in Waste Management during the second quarter valued at approximately $43,000. New Age Alpha Advisors LLC purchased a new position in shares of Waste Management during the first quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Down 0.0%

Shares of Waste Management stock opened at $216.71 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The company has a market cap of $87.31 billion, a P/E ratio of 34.13, a PEG ratio of 2.51 and a beta of 0.62. The company’s fifty day simple moving average is $212.34 and its two-hundred day simple moving average is $223.75.

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

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management’s dividend payout ratio is currently 51.97%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. CIBC lowered their price target on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. National Bankshares lowered their target price on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 7th. Sanford C. Bernstein started coverage on Waste Management in a research report on Wednesday, November 12th. They set an “outperform” rating and a $255.00 price target on the stock. Baird R W upgraded Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Oppenheimer reissued an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a research note on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $248.25.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.