SVB Wealth LLC Cuts Position in Waste Management, Inc. $WM

Key Points

• SVB Wealth LLC decreased its position in Waste Management, Inc. by 9.4%, selling 3,024 shares during the 1st quarter and holding a total of 29,125 shares valued at approximately $6.74 million.
• In contrast, other institutional investors like Brighton Jones LLC increased their stakes significantly, with Brighton increasing by 51.1% in the 4th quarter, now holding shares worth $1.38 million.
• Waste Management reported a 12-month high of $242.58 for its shares and announced a quarterly dividend of $0.825 per share, representing a 1.5% yield.

SVB Wealth LLC lessened its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,125 shares of the business services provider's stock after selling 3,024 shares during the quarter. SVB Wealth LLC's holdings in Waste Management were worth $6,743,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Waste Management by 41.7% in the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after purchasing an additional 232 shares during the last quarter. Calamos Advisors LLC lifted its stake in shares of Waste Management by 2.8% in the 1st quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock valued at $65,633,000 after purchasing an additional 7,751 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Waste Management by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock worth $137,108,000 after acquiring an additional 24,023 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Waste Management by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after acquiring an additional 958 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Insider Buying and Selling at Waste Management

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

Waste Management Trading Down 1.2%

Shares of NYSE:WM opened at $226.9430 on Friday. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The business's fifty day simple moving average is $229.28 and its 200-day simple moving average is $229.77. The company has a market capitalization of $91.42 billion, a PE ratio of 33.67, a P/E/G ratio of 2.82 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 quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last 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. As a group, equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share 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. Investors of record on Friday, September 12th will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is 48.96%.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. Oppenheimer raised their price target on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. BMO Capital Markets raised their price target on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 30th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Finally, William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.35.

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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