Waste Management, Inc. $WM Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 9.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,354 shares of the business services provider’s stock after selling 34,785 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.08% of Waste Management worth $73,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WM. GAMMA Investing LLC increased its position in Waste Management by 26,095.2% during the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock worth $442,038,000 after purchasing an additional 1,902,081 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Waste Management during the 1st quarter worth $333,089,000. Ameriprise Financial Inc. increased its holdings in shares of Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after buying an additional 1,239,996 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in shares of Waste Management during the 4th quarter worth $205,506,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in Waste Management by 16,999.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider’s stock worth $153,043,000 after acquiring an additional 657,194 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of several research analyst reports. Wall Street Zen upgraded Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Hsbc Global Res raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Royal Bank Of Canada reissued a “sector perform” rating and set a $229.00 target price on shares of Waste Management in a research report on Thursday, June 26th. National Bank Financial raised shares of Waste Management to a “hold” rating in a research note on Monday, May 26th. Finally, Seaport Res Ptn raised shares of Waste Management to a “hold” rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.35.

Waste Management Price Performance

Shares of NYSE WM opened at $226.9430 on Friday. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The business has a 50 day moving average price of $229.28 and a two-hundred day moving average price of $229.77. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm has a market cap of $91.42 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating 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 firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the firm earned $1.82 EPS. Waste Management’s quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management’s dividend payout ratio is currently 48.96%.

Insider Buying and Selling at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares of the company’s stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

About Waste Management

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.