Associated Banc Corp Sells 1,774 Shares of Waste Management, Inc. $WM

Associated Banc Corp reduced its stake in Waste Management, Inc. (NYSE:WM) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,765 shares of the business services provider’s stock after selling 1,774 shares during the period. Associated Banc Corp’s holdings in Waste Management were worth $14,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its position in shares of Waste Management by 4.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 40,899 shares of the business services provider’s stock worth $9,359,000 after buying an additional 1,696 shares during the period. Laurel Wealth Advisors LLC boosted its stake in Waste Management by 18,824.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 120,360 shares of the business services provider’s stock worth $27,541,000 after acquiring an additional 119,724 shares during the last quarter. XTX Topco Ltd acquired a new position in Waste Management during the second quarter valued at approximately $7,805,000. Edmond DE Rothschild Holding S.A. increased its stake in Waste Management by 1,730.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 195,661 shares of the business services provider’s stock valued at $44,771,000 after purchasing an additional 184,972 shares in the last quarter. Finally, Aviso Financial Inc. raised its holdings in Waste Management by 5.2% in the second quarter. Aviso Financial Inc. now owns 13,973 shares of the business services provider’s stock worth $3,197,000 after purchasing an additional 694 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 2.2%

Shares of Waste Management stock opened at $211.90 on Tuesday. The stock has a market cap of $85.37 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a quick ratio of 0.82, a current ratio of 0.84 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 business’s 50 day moving average is $212.26 and its 200-day moving average is $223.44.

Waste Management (NYSE:WM) last issued 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 return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Waste Management’s quarterly revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.825 per share. The ex-dividend date is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. Waste Management’s dividend payout ratio (DPR) is presently 51.97%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WM. Weiss Ratings raised shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, November 19th. Baird R W raised Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Sanford C. Bernstein began 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. The Goldman Sachs Group initiated coverage on Waste Management in a report on Monday. They set a “buy” rating and a $256.00 price objective on the stock. Finally, Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average price target of $248.62.

Insiders Place Their Bets

In other Waste Management news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

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.