Global Assets Advisory LLC Sells 3,071 Shares of Waste Management, Inc. $WM

Key Points

• Global Assets Advisory LLC reduced its stake in Waste Management, Inc. ($WM) by 45.8%, selling 3,071 shares in the second quarter, leaving it with 3,632 shares valued at approximately $831,000.
• Several institutional investors, including Nuveen LLC and T. Rowe Price Investment Management Inc., significantly increased their holdings in Waste Management, contributing to institutional ownership accounting for 80.40% of the stock.
• Waste Management last reported quarterly earnings of $1.92 per share, beating estimates and demonstrating a 19.0% year-over-year revenue growth.

Global Assets Advisory LLC lessened its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 45.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,632 shares of the business services provider's stock after selling 3,071 shares during the quarter. Global Assets Advisory LLC's holdings in Waste Management were worth $831,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WM. Nuveen LLC acquired a new stake in Waste Management in the first quarter worth $333,089,000. Ameriprise Financial Inc. raised its stake in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after buying an additional 1,239,996 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Waste Management by 26.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock worth $774,000,000 after acquiring an additional 709,557 shares in the last quarter. Voya Investment Management LLC grew its stake in Waste Management by 738.2% in the first quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock valued at $175,766,000 after acquiring an additional 668,637 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Waste Management by 16,999.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider's stock worth $153,043,000 after acquiring an additional 657,194 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on WM shares. Citigroup reduced their price target on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Oppenheimer lifted their target price on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. BMO Capital Markets lifted their target price on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Waste Management in a research note on Saturday, September 27th. Finally, Barclays initiated coverage on shares of Waste Management in a research report on Friday, September 19th. They set an "overweight" rating and a $272.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and an average price target of $255.17.

Waste Management Trading Up 1.3%

NYSE:WM opened at $219.77 on Monday. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The firm has a market cap of $88.53 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm has a 50-day moving average price of $224.29 and a two-hundred day moving average price of $228.27. 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 quarterly earnings data 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 company had revenue of $6.43 billion during 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 firm's revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management's dividend payout ratio (DPR) is currently 48.96%.

About Waste Management

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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.