The Manufacturers Life Insurance Company Sells 19,515 Shares of Waste Management, Inc. $WM

Key Points

• The Manufacturers Life Insurance Company reduced its position in Waste Management, Inc. by 8.2% in the first quarter, owning 217,826 shares valued at approximately $50.43 million after selling 19,515 shares.
• Waste Management reported a quarterly EPS of $1.92, exceeding analysts' estimates, with a year-over-year revenue increase of 19.0% to approximately $6.43 billion.
• The company declared a quarterly dividend of $0.825 per share, providing an annualized yield of 1.5%, with a dividend payout ratio of 48.96%.

The Manufacturers Life Insurance Company lowered its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 217,826 shares of the business services provider's stock after selling 19,515 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Waste Management worth $50,429,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Westend Capital Management LLC boosted its position in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after purchasing an additional 66 shares during the last quarter. West Branch Capital LLC boosted its position in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new position in Waste Management in the first quarter worth $38,000. Adalta Capital Management LLC purchased a new position in shares of Waste Management during the 4th quarter valued at $40,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter valued at $45,000. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

NYSE WM traded down $1.53 during trading on Wednesday, reaching $224.20. The company's stock had a trading volume of 1,636,385 shares, compared to its average volume of 1,570,426. 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 has a market capitalization of $90.31 billion, a PE ratio of 33.26, a P/E/G ratio of 2.78 and a beta of 0.64. The firm has a fifty day moving average of $228.05 and a 200 day moving average of $229.73. 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 announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The firm 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%.The company's revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Analysts expect that Waste Management, Inc. will post 7.7 EPS 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. Stockholders of record on Friday, September 12th will be given a dividend of $0.825 per share. The ex-dividend date is Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio is 48.96%.

Analyst Upgrades and Downgrades

WM has been the topic of a number of recent research reports. Raymond James Financial upped their price target on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a research report on Monday, June 9th. UBS Group increased their price objective on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, CIBC lifted their target price on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Two investment 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.