Ninety One North America Inc. Trims Stock Position in Waste Management, Inc. $WM

Key Points

• Ninety One North America Inc. reduced its stake in Waste Management, Inc. by 40.2%, selling 27,521 shares and leaving them with 40,900 shares valued at approximately $9.36 million.
• Waste Management reported Q2 earnings of $1.92 per share, exceeding estimates by $0.03, and a revenue of $6.43 billion, up 19.0% year-over-year.
• The company declared a quarterly dividend of $0.825 per share, yielding 1.5%, with an annualized payout increasing its ratio to 48.96%.

Ninety One North America Inc. cut its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 40.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,900 shares of the business services provider's stock after selling 27,521 shares during the period. Ninety One North America Inc.'s holdings in Waste Management were worth $9,359,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WM. Brighton Jones LLC raised its stake in Waste Management by 51.1% during the fourth 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. NBC Securities Inc. raised its stake in shares of Waste Management by 113,950.0% in the 1st quarter. NBC Securities Inc. now owns 4,562 shares of the business services provider's stock valued at $1,056,000 after acquiring an additional 4,558 shares during the period. Merit Financial Group LLC raised its stake in shares of Waste Management by 17.3% in the 1st quarter. Merit Financial Group LLC now owns 10,293 shares of the business services provider's stock valued at $2,383,000 after acquiring an additional 1,519 shares during the period. RFG Advisory LLC raised its stake in shares of Waste Management by 113.6% in the 1st quarter. RFG Advisory LLC now owns 6,429 shares of the business services provider's stock valued at $1,488,000 after acquiring an additional 3,419 shares during the period. Finally, Threadgill Financial LLC purchased a new stake in shares of Waste Management in the 1st quarter valued at approximately $208,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.6%

Shares of WM stock opened at $220.85 on Wednesday. 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 stock has a market capitalization of $88.97 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a 50 day moving average price of $224.93 and a 200 day moving average price of $228.43. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

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

Waste Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WM. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Stifel Nicolaus began coverage on shares of Waste Management in a research note on Tuesday. They issued a "buy" rating and a $252.00 price target on the stock. Oppenheimer boosted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. UBS Group boosted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, William Blair restated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $255.17.

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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