Waste Management, Inc. $WM Shares Sold by Gitterman Wealth Management LLC

Key Points

• Gitterman Wealth Management LLC has reduced its stake in Waste Management, Inc. by 59.6%, selling 1,681 shares and leaving it with holdings valued at $264,000.
• Institutional investors control 80.40% of Waste Management's stock, with several firms such as T. Rowe Price and Stonebridge Financial Group increasing their holdings recently.
• Waste Management reported earnings of $1.92 per share for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.825 per share.

Gitterman Wealth Management LLC lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 59.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,140 shares of the business services provider's stock after selling 1,681 shares during the period. Gitterman Wealth Management LLC's holdings in Waste Management were worth $264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of Waste Management by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock worth $781,000 after acquiring an additional 44 shares during the period. Ascent Group LLC grew its holdings in shares of Waste Management by 0.6% in the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock worth $1,520,000 after acquiring an additional 44 shares during the period. Insight Wealth Strategies LLC grew its holdings in shares of Waste Management by 0.4% in the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock worth $2,698,000 after acquiring an additional 44 shares during the period. Stonebridge Financial Group LLC grew its holdings in Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after buying an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC grew its holdings in Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Trading Down 1.2%

Shares of WM traded down $2.6670 during trading hours on Friday, hitting $226.9430. The stock had a trading volume of 1,331,593 shares, compared to its average volume of 1,869,840. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market cap of $91.42 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.78 and a beta of 0.64. The company's fifty day simple moving average is $229.28 and its 200 day simple moving average is $229.85. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.

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

Waste Management Dividend Announcement

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 given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a report on Monday, June 9th. CIBC increased their target price on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Oppenheimer increased their target price on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Melius assumed coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating on the stock. Finally, Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

Insider Activity

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the firm's 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 transaction, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $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 SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were 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 directly owned 16,542 shares in the company, 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. Company insiders own 0.18% of the company's stock.

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.