Bar Harbor Wealth Management Trims Position in Waste Management, Inc. $WM

Bar Harbor Wealth Management lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,793 shares of the business services provider’s stock after selling 1,045 shares during the period. Bar Harbor Wealth Management’s holdings in Waste Management were worth $6,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 2,320 shares during the period. Zevenbergen Capital Investments LLC increased its position in shares of Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock worth $2,158,000 after purchasing an additional 2,200 shares during the last quarter. Empowered Funds LLC increased its position in shares of Waste Management by 82.9% during the 1st quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock worth $5,248,000 after purchasing an additional 10,272 shares during the last quarter. BROOKFIELD Corp ON increased its position in shares of Waste Management by 25.1% during the 1st quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock worth $4,661,000 after purchasing an additional 4,043 shares during the last quarter. Finally, Czech National Bank increased its position in shares of Waste Management by 6.7% during the 2nd quarter. Czech National Bank now owns 89,510 shares of the business services provider’s stock worth $20,482,000 after purchasing an additional 5,620 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WM. Royal Bank Of Canada reissued a “sector perform” rating and set a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. National Bankshares cut their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday. Raymond James Financial raised their price objective on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. BMO Capital Markets lifted their target price on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus started coverage on Waste Management in a research report on Tuesday, September 30th. They issued a “buy” rating and a $252.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $254.37.

Waste Management Stock Performance

NYSE WM opened at $220.00 on Thursday. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a market cap of $88.62 billion, a P/E ratio of 32.64, a P/E/G ratio of 2.66 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a 50-day moving average of $223.47 and a two-hundred day moving average of $228.09.

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

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s payout ratio is currently 48.96%.

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.