Waste Management, Inc. $WM Shares Sold by Amundi

Key Points

• Amundi has reduced its stock holdings in Waste Management, Inc. by 15%, now owning approximately 3.31 million shares worth about $783.32 million.
• Despite the reduction, institutional investors continue to own about 80.40% of Waste Management's stock, with several firms increasing their stakes in the first quarter.
• Waste Management reported a 19% year-over-year revenue increase, with earnings of $1.92 per share for the latest quarter, exceeding estimates and indicating strong financial performance.

Amundi cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 15.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,311,548 shares of the business services provider's stock after selling 586,411 shares during the quarter. Amundi owned 0.82% of Waste Management worth $783,323,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Golden State Wealth Management LLC raised its holdings in Waste Management by 41.7% in the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after acquiring an additional 232 shares in the last quarter. Calamos Advisors LLC lifted its stake in Waste Management by 2.8% in the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after acquiring an additional 7,751 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Waste Management by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after acquiring an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Waste Management by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after purchasing an additional 958 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WM shares. Scotiabank upped their price objective on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Melius assumed coverage on Waste Management in a report on Monday, June 9th. They issued a "buy" rating for the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. CIBC boosted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Finally, National Bank Financial raised shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Stock Performance

Shares of Waste Management stock traded down $4.87 during trading on Friday, reaching $220.08. The company's stock had a trading volume of 2,110,690 shares, compared to its average volume of 1,680,656. The company has a 50-day moving average price of $227.85 and a two-hundred day moving average price of $229.65. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The firm has a market cap of $88.65 billion, a PE ratio of 32.65, a P/E/G ratio of 2.76 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $6.37 billion. During the same period in the prior year, the business earned $1.82 EPS. The firm's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.825 dividend. The ex-dividend date is 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 (DPR) is presently 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.