Bank of Nova Scotia Has $32.34 Million Stake in Waste Management, Inc. $WM

Bank of Nova Scotia cut its holdings in shares of Waste Management, Inc. (NYSE:WM) by 31.1% during the first quarter, Holdings Channel reports. The fund owned 140,722 shares of the business services provider’s stock after selling 63,477 shares during the quarter. Bank of Nova Scotia’s holdings in Waste Management were worth $32,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Elevated Capital Advisors LLC bought a new position in shares of Waste Management in the fourth quarter valued at about $25,000. Financial Network Wealth Advisors LLC grew its stake in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares during the last quarter. RHL Group LLC bought a new position in Waste Management in the 4th quarter valued at about $29,000. Mcguire Capital Advisors Inc. acquired a new stake in Waste Management during the fourth quarter worth approximately $29,000. Finally, JPL Wealth Management LLC bought a new stake in Waste Management in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Barclays raised their price target on shares of Waste Management from $266.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce upgraded shares of Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price target for the company in a research report on Tuesday, July 7th. Weiss Ratings cut shares of Waste Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Finally, TD Cowen boosted their price target on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $256.74.

Waste Management Price Performance

Shares of NYSE:WM opened at $238.86 on Friday. The company has a 50-day moving average price of $224.17 and a two-hundred day moving average price of $227.08. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The firm has a market capitalization of $95.92 billion, a PE ratio of 34.57, a P/E/G ratio of 2.89 and a beta of 0.44.

Waste Management (NYSE:WM) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.06. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 EPS. Equities analysts forecast that Waste Management, Inc. will post 8.16 EPS for the current year.

Waste Management Dividend Announcement

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

Waste Management News Roundup

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 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.