30,000 Shares in Waste Management, Inc. $WM Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems acquired 30,000 shares of Waste Management, Inc. (NYSE: WM) in the 2nd quarter for approximately $6.87 million.
• Institutional investors hold an impressive 80.40% of Waste Management's stock, with several firms increasing their positions significantly.
• Waste Management recently reported earnings of $1.92 EPS, exceeding analyst expectations and marking a 19.0% year-over-year revenue growth.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the business services provider's stock, valued at approximately $6,865,000.

Several other institutional investors have also bought and sold shares of WM. Westend Capital Management LLC raised its position in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares in the last quarter. Saudi Central Bank bought a new stake in Waste Management in the first quarter worth about $37,000. GKV Capital Management Co. Inc. bought a new stake in Waste Management in the first quarter worth about $38,000. New Age Alpha Advisors LLC bought a new stake in Waste Management in the first quarter worth about $45,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in Waste Management by 381.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider's stock worth $47,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on WM shares. Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. UBS Group cut their price objective on Waste Management from $265.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday, October 16th. CIBC boosted their price objective on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Finally, Barclays cut their price objective on Waste Management from $272.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and a consensus target price of $253.00.

Waste Management Trading Up 0.0%

Shares of NYSE WM opened at $215.50 on Tuesday. The stock has a market cap of $86.81 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 2.65 and a beta of 0.64. The business has a 50 day simple moving average of $220.96 and a 200 day simple moving average of $227.28. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company's revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders 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 yield of 1.5%. Waste Management's dividend payout ratio is presently 48.96%.

Waste Management 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.

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