Sandler Capital Management Sells 11,666 Shares of Waste Management, Inc. $WM

Key Points

• Sandler Capital Management has reduced its stake in Waste Management, Inc. by 37.3%, now owning 19,617 shares valued at approximately $4.54 million.
• Analysts have increased price targets for Waste Management, with Scotiabank raising their target from $265.00 to $275.00 and maintaining a "sector outperform" rating.
• Waste Management announced a quarterly dividend of $0.825 per share, representing a 1.5% dividend yield, with an ex-dividend date set for September 12th.

Sandler Capital Management decreased its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 37.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,617 shares of the business services provider's stock after selling 11,666 shares during the period. Waste Management makes up 1.1% of Sandler Capital Management's portfolio, making the stock its 26th biggest position. Sandler Capital Management's holdings in Waste Management were worth $4,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Ameriprise Financial Inc. lifted its stake in shares of Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares in the last quarter. Northern Trust Corp boosted its position in shares of Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after purchasing an additional 70,907 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Waste Management by 7.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock valued at $531,456,000 after buying an additional 177,398 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Waste Management by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after purchasing an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Waste Management by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after acquiring an additional 29,715 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WM has been the subject of several recent research reports. National Bank Financial raised Waste Management to a "hold" rating in a research note on Monday, May 26th. UBS Group increased their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a report on Monday, June 9th. Melius started coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating on the stock. Finally, BMO Capital Markets increased their price objective on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Stock Performance

NYSE WM traded down $1.49 during trading on Wednesday, hitting $217.67. The company's stock had a trading volume of 1,183,396 shares, compared to its average volume of 1,741,233. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm has a market cap of $87.68 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. The firm has a 50 day moving average price of $227.46 and a 200 day moving average price of $229.53.

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. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. Waste Management's revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.825 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management's dividend payout ratio (DPR) is currently 48.96%.

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.