Bank of Nova Scotia Sells 63,477 Shares of Waste Management, Inc. $WM

Bank of Nova Scotia lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 31.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,722 shares of the business services provider’s stock after selling 63,477 shares during the period. Bank of Nova Scotia’s holdings in Waste Management were worth $32,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevated Capital Advisors LLC bought a new stake in shares of Waste Management in the 4th quarter worth about $25,000. RHL Group LLC bought a new position in Waste Management in the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC lifted its position in Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Waste Management in the third quarter valued at approximately $30,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WM has been the subject of several recent research reports. Scotiabank upped their target price on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce raised Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price objective for the company in a research note on Tuesday, July 7th. Barclays upped their price objective on Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. TD Cowen boosted their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Citigroup upped their price target on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Fifteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $256.74.

More Waste Management News

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Analysts expect WM to report higher revenue and earnings, supported by stronger collection and disposal pricing plus a sharp increase in renewable energy sales. WM Is Set to Report Q2 Earnings: Here’s What Investors Should Know
• Positive Sentiment: WM was highlighted as a stock that can benefit from inflation because its contracts allow it to pass rising costs through to customers, which supports margins and earnings resilience. 2 Stocks Built to Thrive If Inflation Refuses to Fade
• Positive Sentiment: The company was also cited as one of several waste firms using AI to improve efficiency and expand margins, reinforcing the long-term growth narrative. 3 Waste Stocks Turning AI Investments Into Growth
• Neutral Sentiment: Several articles published ahead of earnings focused on Wall Street estimates and key operating metrics, suggesting investors are mainly waiting for the actual Q2 report before making a bigger move. Curious about Waste Management (WM) Q2 Performance? Explore Wall Street Estimates for Key Metrics
• Neutral Sentiment: One broad S&P 500 article mentioned WM among companies worth investigating, but it did not provide a specific new catalyst for the stock. 1 S&P 500 Stock Worth Investigating and 2 Facing Challenges

Waste Management Price Performance

Shares of NYSE WM opened at $238.86 on Friday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The stock has a market capitalization of $95.92 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 2.89 and a beta of 0.44. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The business has a 50-day moving average of $224.17 and a 200-day moving average of $227.08.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the company earned $1.67 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Waste Management, Inc. will post 8.16 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a dividend of $0.945 per share. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.