Old West Investment Management LLC Acquires New Shares in Waste Management, Inc. $WM

Key Points

• Old West Investment Management LLC has acquired 1,952 shares of Waste Management, Inc. valued at approximately $452,000, marking significant institutional interest in the company.
• Waste Management reported earnings of $1.92 per share for the last quarter, exceeding analysts' expectations and reflecting a 19% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.825 per share, to be paid on September 26th, with a current dividend yield of 1.5%.

Old West Investment Management LLC acquired a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,952 shares of the business services provider's stock, valued at approximately $452,000.

A number of other large investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. lifted its holdings in Waste Management by 1.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock valued at $781,000 after acquiring an additional 44 shares during the last quarter. Ascent Group LLC increased its holdings in Waste Management by 0.6% in the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after purchasing an additional 44 shares during the last quarter. Insight Wealth Strategies LLC increased its holdings in Waste Management by 0.4% in the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after purchasing an additional 44 shares during the last quarter. Stonebridge Financial Group LLC increased its holdings in Waste Management by 3.0% in the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after purchasing an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC increased its holdings in Waste Management by 2.0% in the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after purchasing an additional 45 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WM. UBS Group lifted their target price on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Stock Down 1.2%

WM stock opened at $226.9430 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company's 50 day moving average is $229.28 and its two-hundred day moving average is $229.85. The stock has a market cap of $91.42 billion, a P/E ratio of 33.67, a PEG ratio of 2.78 and a beta of 0.64.

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

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management's payout ratio is currently 48.96%.

Insider Activity at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the transaction, the chief financial officer owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

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.

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