Corebridge Financial Inc. Sells 4,425 Shares of Waste Management, Inc. $WM

Key Points

• Corebridge Financial Inc. reduced its stake in Waste Management by 4.1%, holding 103,006 shares valued at approximately $23.85 million according to its latest SEC filing.
• Waste Management reported $1.92 EPS for the last quarter, beating analyst estimates, and has set its FY 2025 guidance with expectations of 7.7 EPS for the current fiscal year.
• The company recently announced a quarterly dividend of $0.825 per share, representing an annualized yield of 1.5%, with a dividend payout ratio of 48.96%.

Corebridge Financial Inc. cut its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,006 shares of the business services provider's stock after selling 4,425 shares during the period. Corebridge Financial Inc.'s holdings in Waste Management were worth $23,847,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased 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 worth $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Waste Management by 41.7% in the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after purchasing an additional 232 shares in the last quarter. Calamos Advisors LLC increased its stake in shares of Waste Management by 2.8% in the 1st quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after purchasing an additional 7,751 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Waste Management by 4.2% in 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 purchasing an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake 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 worth $1,909,000 after purchasing an additional 958 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of Waste Management stock traded down $1.27 during trading on Thursday, reaching $224.56. 999,910 shares of the stock traded hands, compared to its average volume of 1,673,837. The company has a market capitalization of $90.46 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 2.77 and a beta of 0.64. The business has a fifty day simple moving average of $228.58 and a two-hundred day simple moving average of $229.77. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58.

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

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Analyst Ratings Changes

Several research firms have recently commented on WM. CIBC upped their price objective on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Oppenheimer increased their price target on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Finally, Robert W. Baird increased their price target on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $254.35.

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.