AlphaQuest LLC Sells 1,218 Shares of Waste Management, Inc. $WM

Key Points

• AlphaQuest LLC reduced its holdings in Waste Management, Inc. by 10.5%, selling 1,218 shares, and now owns 10,336 shares valued at approximately $2.39 million.
• Waste Management reported earnings per share of $1.92 for the last quarter, surpassing estimates by $0.03, with a significant 19% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.825, reflecting an annualized yield of 1.4%, and maintains a dividend payout ratio of 48.96%.

AlphaQuest LLC lessened its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,336 shares of the business services provider's stock after selling 1,218 shares during the period. AlphaQuest LLC's holdings in Waste Management were worth $2,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after acquiring an additional 232 shares in the last quarter. Calamos Advisors LLC raised its holdings in shares of Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after acquiring an additional 7,751 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of 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 worth $137,108,000 after acquiring an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Waste Management by 13.1% during the first 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 in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. William Blair reissued 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 target price on the stock in a research report on Monday, June 9th. Finally, CIBC increased their target price on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Two investment 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. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Stock Down 1.2%

Waste Management stock traded down $2.6670 during mid-day trading on Friday, hitting $226.9430. 1,331,593 shares of the company's stock were exchanged, compared to its average volume of 1,869,840. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a market cap of $91.42 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.78 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The stock has a 50 day moving average of $229.28 and a two-hundred day moving average of $229.85.

Waste Management (NYSE:WM - Get Free Report) last released 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 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 analysts' expectations of $6.37 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The business's quarterly 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, analysts anticipate that Waste Management, Inc. will post 7.7 EPS 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 payout ratio is 48.96%.

Insider Activity at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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.