Legal & General Group Plc Lowers Stake in Waste Management, Inc. $WM

Legal & General Group Plc lessened its position in Waste Management, Inc. (NYSE:WM) by 6.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,580,055 shares of the business services provider’s stock after selling 169,931 shares during the period. Legal & General Group Plc’s holdings in Waste Management were worth $590,368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WM. MAI Capital Management raised its holdings in Waste Management by 5.8% in the 2nd quarter. MAI Capital Management now owns 102,493 shares of the business services provider’s stock valued at $23,453,000 after acquiring an additional 5,625 shares during the last quarter. Entropy Technologies LP grew its position in shares of Waste Management by 28.3% in the second quarter. Entropy Technologies LP now owns 33,105 shares of the business services provider’s stock valued at $7,575,000 after purchasing an additional 7,303 shares during the period. Magnetar Financial LLC purchased a new position in Waste Management during the second quarter worth about $3,289,000. Swiss National Bank boosted its stake in Waste Management by 7.6% in the 2nd quarter. Swiss National Bank now owns 1,217,900 shares of the business services provider’s stock worth $278,680,000 after buying an additional 86,000 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its holdings in Waste Management by 6.0% in the 2nd quarter. Personal CFO Solutions LLC now owns 1,792 shares of the business services provider’s stock valued at $410,000 after buying an additional 101 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Down 0.0%

NYSE:WM opened at $216.71 on Friday. The business’s 50-day moving average is $212.34 and its two-hundred day moving average is $223.75. The firm has a market capitalization of $87.31 billion, a PE ratio of 34.13, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82.

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

Waste Management Announces Dividend

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 dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s payout ratio is presently 51.97%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WM. Wells Fargo & Company began coverage on shares of Waste Management in a research report on Friday, November 14th. They issued an “overweight” rating and a $238.00 target price on the stock. Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. William Blair reaffirmed an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. JPMorgan Chase & Co. reduced their target price on Waste Management from $277.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, Barclays dropped their price target on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $248.25.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the sale, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.