Rafferty Asset Management LLC Sells 6,838 Shares of Waste Management, Inc. $WM

Key Points

• Rafferty Asset Management LLC sold 6,838 shares of Waste Management, lowering its holdings by 20.0%, now owning 27,277 shares valued at approximately $6.31 million.
• Institutional investors collectively hold 80.40% of Waste Management's stock, showcasing significant interest and recent activity in its shares, with several firms increasing their holdings substantially.
• Waste Management reported a 19.0% increase in quarterly revenue, reaching $6.43 billion, alongside an EPS of $1.92, exceeding expectations and reflecting strong financial performance.

Rafferty Asset Management LLC decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 20.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,277 shares of the business services provider's stock after selling 6,838 shares during the period. Rafferty Asset Management LLC's holdings in Waste Management were worth $6,315,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC lifted its position in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. West Branch Capital LLC lifted its position in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in Waste Management in the 1st quarter valued at $38,000. Adalta Capital Management LLC bought a new stake in Waste Management in the 4th quarter valued at $40,000. Finally, New Age Alpha Advisors LLC bought a new stake in Waste Management during the 1st quarter worth about $45,000. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Performance

Shares of NYSE:WM traded up $2.11 on Friday, reaching $226.69. 1,527,535 shares of the company's stock were exchanged, compared to its average volume of 1,640,870. The company has a fifty day moving average of $228.48 and a 200-day moving average of $229.80. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a market capitalization of $91.32 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.78 and a beta of 0.64. 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 (NYSE:WM - Get Free Report) last announced its 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 net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The business's 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 predict 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 given 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 is Friday, September 12th. Waste Management's dividend payout ratio is presently 48.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WM shares. Raymond James Financial boosted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price objective on the stock in a research note on Monday, June 9th. William Blair restated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Scotiabank boosted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Company 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.