USS Investment Management Ltd Trims Stock Position in Waste Management, Inc. $WM

Key Points

• USS Investment Management Ltd reduced its holdings in Waste Management, Inc. by 16.1%, selling 19,014 shares and now owning 98,911 shares worth approximately $22.9 million.
• Analysts have set a consensus target price for Waste Management at $254.35, with a majority rating the stock as a "Moderate Buy".
• The company announced a quarterly dividend of $0.825 per share, representing an annual yield of 1.5%, to be paid on September 26th.

USS Investment Management Ltd lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,911 shares of the business services provider's stock after selling 19,014 shares during the quarter. USS Investment Management Ltd's holdings in Waste Management were worth $22,895,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings 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 acquiring an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Waste Management by 41.7% during the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after acquiring an additional 232 shares during the last quarter. Calamos Advisors LLC lifted its position in Waste Management by 2.8% during the first 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 position in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after purchasing an additional 24,023 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after purchasing an additional 958 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 0.7%

NYSE:WM traded down $1.49 during midday trading on Wednesday, reaching $217.67. 1,183,396 shares of the stock traded hands, compared to its average volume of 1,715,270. The company has a fifty day moving average of $227.46 and a 200 day moving average of $229.53. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The stock has a market capitalization of $87.68 billion, a P/E ratio of 32.30, a PEG ratio of 2.69 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating 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 company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the business posted $1.82 EPS. The firm'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 year.

Waste Management Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research report on Wednesday, July 30th. Melius started coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating for the company. William Blair reiterated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a research note on Monday, June 9th. Finally, National Bank Financial raised shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management 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.