BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Lowers Holdings in Waste Management, Inc. $WM

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has decreased its holdings in Waste Management, Inc. by 9.9%, selling 34,785 shares in the first quarter, while the fund's total ownership amounts to $73 million.
• Several institutional investors, including GAMMA Investing LLC and T. Rowe Price Investment Management Inc., significantly increased their stakes in Waste Management during the same period, showcasing heightened interest in the company.
• Analysts have recently upgraded Waste Management, with two upgrades to a Strong Buy rating, contributing to an average target price of $254.35 for the stock.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Waste Management, Inc. (NYSE:WM - Free Report) by 9.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 315,354 shares of the business services provider's stock after selling 34,785 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.08% of Waste Management worth $73,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WM. Westend Capital Management LLC increased its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares in the last quarter. West Branch Capital LLC increased its position in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after buying an additional 49 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Waste Management during the 1st quarter valued at approximately $38,000. Adalta Capital Management LLC bought a new position in Waste Management during the 4th quarter valued at approximately $40,000. Finally, New Age Alpha Advisors LLC bought a new position in Waste Management during the 1st quarter valued at approximately $45,000. Institutional investors own 80.40% of the company's stock.

Insider Buying and Selling at Waste Management

In other Waste Management news, 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 transaction of $159,609.94. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Waste Management Stock Performance

Shares of WM traded down $2.8820 during trading hours on Monday, hitting $224.1380. The stock had a trading volume of 1,101,617 shares, compared to its average volume of 1,869,840. 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 12 month low of $199.69 and a 12 month high of $242.58. The firm has a market capitalization of $90.29 billion, a PE ratio of 33.25, a PEG ratio of 2.78 and a beta of 0.64. The stock has a fifty day moving average price of $229.07 and a 200 day moving average price of $229.84.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data 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. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. Waste Management's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

WM has been the subject of a number of analyst reports. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. BMO Capital Markets lifted their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Robert W. Baird lifted their target price on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Scotiabank lifted their target price on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. Two 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 data from MarketBeat.com, Waste Management presently has a consensus 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.