Illinois Municipal Retirement Fund Has $1.04 Million Stock Position in Waste Management, Inc. $WM

Key Points

• Illinois Municipal Retirement Fund cut its Waste Management stake by 53.2% in the first quarter, selling 5,161 shares and leaving it with 4,538 shares worth about $1.04 million.
• Wall Street sentiment remains generally positive: analysts have a Moderate Buy consensus on WM, with 15 Buy ratings and an average price target of $256.74.
• Waste Management reported solid quarterly results, posting EPS of $1.81 versus estimates of $1.75, while revenue grew 3.5% year over year; the company also pays a quarterly dividend of $0.945 per share.

Illinois Municipal Retirement Fund cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 53.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,538 shares of the business services provider's stock after selling 5,161 shares during the period. Illinois Municipal Retirement Fund's holdings in Waste Management were worth $1,043,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Broadway Wealth Solutions Inc. raised its stake in shares of Waste Management by 2.8% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider's stock worth $349,000 after purchasing an additional 44 shares during the last quarter. Bey Douglas LLC boosted its position in shares of Waste Management by 3.7% during the fourth quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider's stock valued at $271,000 after buying an additional 44 shares during the last quarter. San Luis Wealth Advisors LLC grew its holdings in Waste Management by 2.4% during the fourth quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider's stock worth $422,000 after buying an additional 45 shares in the last quarter. Birch Hill Investment Advisors LLC raised its position in Waste Management by 0.7% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider's stock valued at $1,341,000 after buying an additional 45 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its stake in Waste Management by 1.9% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider's stock valued at $527,000 after acquiring an additional 45 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Key Headlines Impacting Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: A Seeking Alpha piece highlighted Waste Management as a defensive name with a positive outlook, suggesting investors may still view WM as a stable anchor in uncertain markets. Waste Management: Positive Outlook As Defensive Anchor Remains
• Neutral Sentiment: Analysts said WM’s earnings are expected to grow, but also noted the stock may not have the setup for a clear earnings beat, which keeps expectations balanced ahead of the next report. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Another earnings preview from Zacks struck a similar tone, saying investors should be prepared for growth but not necessarily a strong upside surprise. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Negative Sentiment: WM fell as the broader market moved higher, indicating some near-term profit-taking or relative weakness versus the market. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know
• Negative Sentiment: A local report said Waste Management will end service in a Centre County township, which could slightly weigh on sentiment even if the business impact is limited. Waste Management to end service in a Centre County township

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WM. Scotiabank upped their target price on shares of Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price target on shares of Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce upgraded shares of Waste Management from a "hold" rating to an "outperformer" rating and set a $244.00 price target on the stock in a report on Tuesday, July 7th. Oppenheimer reduced their price objective on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a research report on Wednesday, July 8th. Finally, Robert W. Baird lifted their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $256.74.

Waste Management Trading Up 1.5%

NYSE WM opened at $236.69 on Thursday. The business's fifty day moving average is $223.42 and its 200-day moving average is $226.86. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market capitalization of $95.05 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.84 and a beta of 0.44. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share. Equities research analysts predict that Waste Management, Inc. will post 8.15 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were issued a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management's payout ratio is 54.70%.

Waste Management Company Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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