Ninety One UK Ltd Sells 232,084 Shares of Waste Management, Inc. $WM

Key Points

• Ninety One UK Ltd has reduced its stake in Waste Management, Inc. by 39.5%, now holding 355,779 shares valued at approximately $81.4 million after selling 232,084 shares in the last quarter.
• Analysts have raised their target prices for Waste Management, with a consensus price target of $255.17, reflecting a generally positive outlook for the company's stock.
• Waste Management recently declared a quarterly dividend of $0.825 per share, translating to an annualized yield of 1.5% and a payout ratio of approximately 49%.

Ninety One UK Ltd decreased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 39.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,779 shares of the business services provider's stock after selling 232,084 shares during the period. Ninety One UK Ltd owned 0.09% of Waste Management worth $81,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Waste Management by 51.1% during the 4th 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 in the last quarter. NBC Securities Inc. increased its holdings in Waste Management by 113,950.0% during the first quarter. NBC Securities Inc. now owns 4,562 shares of the business services provider's stock worth $1,056,000 after buying an additional 4,558 shares during the last quarter. Merit Financial Group LLC raised its position in Waste Management by 17.3% during the first quarter. Merit Financial Group LLC now owns 10,293 shares of the business services provider's stock worth $2,383,000 after acquiring an additional 1,519 shares in the last quarter. RFG Advisory LLC lifted its stake in Waste Management by 113.6% in the first 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 last quarter. Finally, Threadgill Financial LLC bought a new position in shares of Waste Management in the 1st quarter valued at about $208,000. Institutional investors own 80.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on WM. BMO Capital Markets raised their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Barclays initiated coverage on Waste Management in a research note on Friday, September 19th. They issued an "overweight" rating and a $272.00 price objective on the stock. Oppenheimer lifted their target price on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. CIBC increased their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, Stifel Nicolaus assumed coverage on shares of Waste Management in a research report on Tuesday. They set a "buy" rating and a $252.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.17.

Waste Management Price Performance

Waste Management stock opened at $220.85 on Wednesday. The firm has a market cap of $88.97 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. 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 stock's fifty day moving average price is $224.93 and its two-hundred day moving average price is $228.43. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.03. The company 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%.Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders 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 is 48.96%.

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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