Waste Management, Inc. $WM Shares Sold by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. reduced its holdings in Waste Management, Inc. (NYSE:WM) by 19.4% in the first quarter, now owning 18,444 shares valued at $4.27 million.
• The CFO of Waste Management, Devina A. Rankin, sold 57,888 shares at an average price of $237.36, decreasing her ownership by 40.82%.
• Waste Management announced a quarterly dividend of $0.825 per share, with a yield of 1.5%, set to be paid on September 26th to shareholders of record as of September 12th.

1832 Asset Management L.P. trimmed its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 19.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,444 shares of the business services provider's stock after selling 4,428 shares during the quarter. 1832 Asset Management L.P.'s holdings in Waste Management were worth $4,270,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its holdings in Waste Management by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock valued at $781,000 after acquiring an additional 44 shares in the last quarter. Ascent Group LLC grew its position in shares of Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after purchasing an additional 44 shares during the last quarter. Insight Wealth Strategies LLC increased its stake in shares of Waste Management by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock worth $2,698,000 after purchasing an additional 44 shares in the last quarter. Stonebridge Financial Group LLC raised its position in shares of Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after purchasing an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC lifted its stake in Waste Management by 2.0% in the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Activity

In other news, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value 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. This trade represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Waste Management Trading Down 1.2%

Shares of WM stock opened at $226.9430 on Monday. The firm's 50-day simple moving average is $229.28 and its 200-day simple moving average is $229.85. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The firm has a market cap of $91.42 billion, a P/E ratio of 33.67, a PEG ratio of 2.78 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion during 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 for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, equities analysts forecast 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. 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 yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WM. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a research note on Monday, June 9th. Robert W. Baird raised their price target on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Citigroup boosted their price objective on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, BMO Capital Markets upped their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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