Waste Management, Inc. $WM Shares Sold by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in Waste Management, Inc. by 8.2% during the second quarter, now holding 50,914 shares worth approximately $11.65 million.
• Several institutional investors significantly increased their positions, with Valeo Financial Advisors LLC boosting its stake by over 15,700%, now owning 1.7 million shares valued at $395.5 million.
• Analysts maintain a generally positive outlook on Waste Management, with a consensus rating of "Moderate Buy" and an average price target of $254.32.

Envestnet Portfolio Solutions Inc. lessened its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,914 shares of the business services provider's stock after selling 4,532 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Waste Management were worth $11,650,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Valeo Financial Advisors LLC boosted its stake in shares of Waste Management by 15,782.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider's stock worth $395,512,000 after acquiring an additional 1,717,603 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Waste Management during the 1st quarter worth about $333,089,000. Ameriprise Financial Inc. boosted its stake in shares of Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Waste Management by 26.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock worth $774,000,000 after acquiring an additional 709,557 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Waste Management by 738.2% during the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock worth $175,766,000 after acquiring an additional 668,637 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

WM has been the topic of several recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Waste Management in a research note on Wednesday, October 8th. National Bankshares decreased their price target on shares of Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a research note on Tuesday, October 7th. Scotiabank raised their price target on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. CIBC raised their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, Oppenheimer decreased their price target on shares of Waste Management from $265.00 to $262.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average price target of $254.32.

Waste Management Stock Down 0.9%

WM stock opened at $217.17 on Tuesday. The company has a market cap of $87.48 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 2.70 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The firm has a 50-day moving average of $222.78 and a two-hundred day moving average of $227.89.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.825 dividend. The ex-dividend date was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management's dividend payout ratio is presently 48.96%.

Waste Management Company 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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