Jump Financial LLC Buys 13,492 Shares of Waste Management, Inc. $WM

Key Points

• Jump Financial LLC increased its stake in Waste Management by 133.5%, acquiring 13,492 shares and raising its total holdings to 23,600 shares valued at approximately $5.46 million.
• Several institutional investors have recently boosted their shares in Waste Management, with Wealth Enhancement Advisory Services LLC owning 592,229 shares after a 4.2% increase in their stake.
• Waste Management announced a quarterly dividend of $0.825 per share, set to be paid on September 26, with a 1.5% yield and a payout ratio of 48.96%.

Jump Financial LLC increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 133.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,600 shares of the business services provider's stock after acquiring an additional 13,492 shares during the period. Jump Financial LLC's holdings in Waste Management were worth $5,464,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Golden State Wealth Management LLC raised its stake in Waste Management by 41.7% in the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after buying an additional 232 shares during the period. Calamos Advisors LLC raised its stake in Waste Management by 2.8% in the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock valued at $65,633,000 after buying an additional 7,751 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Waste Management by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after buying an additional 24,023 shares during the period. Finally, GAMMA Investing LLC raised its stake in Waste Management by 13.1% in the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after buying an additional 958 shares during the period. Institutional investors own 80.40% of the company's stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% 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.

Wall Street Analysts Forecast Growth

WM has been the topic of several research analyst reports. Scotiabank upped their price objective on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Oppenheimer upped 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 upped their target price on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research report on Wednesday, July 30th. CIBC upped their target price on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Finally, Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research report on Monday, June 9th. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Trading Down 1.2%

Shares of NYSE:WM opened at $226.9430 on Monday. The company has a market capitalization 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. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The business's 50 day simple moving average is $229.28 and its 200 day simple moving average is $229.85.

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

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's payout ratio is presently 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.