Federated Hermes Inc. Purchases 10,438 Shares of Waste Management, Inc. (NYSE:WM)

Key Points

• Federated Hermes Inc. increased its holdings in Waste Management, Inc. by 14.8% during the first quarter, acquiring an additional 10,438 shares, bringing its total ownership to 80,926 shares valued at approximately $18.7 million.
• In the fourth quarter, multiple institutional investors, including Brighton Jones LLC and Wellington Management Group LLP, significantly boosted their positions in Waste Management, reflecting a growing institutional interest in the company.
• Waste Management announced a quarterly dividend of $0.825, representing an annualized payout of $3.30, with a current dividend yield of 1.4% and a payout ratio of 48.96%.

Federated Hermes Inc. boosted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 14.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 80,926 shares of the business services provider's stock after purchasing an additional 10,438 shares during the period. Federated Hermes Inc.'s holdings in Waste Management were worth $18,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Brighton Jones LLC raised its stake in shares of Waste Management by 51.1% during 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 during the period. Bank Pictet & Cie Europe AG grew its position in Waste Management by 14.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after buying an additional 15,974 shares during the period. Wellington Management Group LLP increased its holdings in Waste Management by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 260,910 shares of the business services provider's stock worth $52,649,000 after buying an additional 13,755 shares during the last quarter. Meeder Advisory Services Inc. raised its position in Waste Management by 15.7% in the fourth quarter. Meeder Advisory Services Inc. now owns 8,315 shares of the business services provider's stock worth $1,678,000 after acquiring an additional 1,126 shares during the period. Finally, Bryce Point Capital LLC purchased a new position in Waste Management in the fourth quarter valued at about $469,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Transactions at Waste Management

In other news, 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 transaction of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the completion of the transaction, the chief financial officer 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 disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

WM stock opened at $228.93 on Friday. The firm has a 50 day moving average of $231.65 and a 200-day moving average of $227.97. The firm has a market capitalization of $92.12 billion, a P/E ratio of 33.97, a price-to-earnings-growth ratio of 2.83 and a beta of 0.64. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.79 and a debt-to-equity ratio of 2.51.

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 the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio is currently 48.96%.

Analyst Ratings Changes

WM has been the subject of several research analyst reports. HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and raised their price target for the stock from $210.00 to $265.00 in a research note on Friday, April 25th. BMO Capital Markets raised their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday. Royal Bank Of Canada restated a "sector perform" rating and issued a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, National Bank Financial raised Waste Management to a "hold" rating in a report on Monday, May 26th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $254.35.

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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