Waste Management, Inc. $WM Shares Sold by Generate Investment Management Ltd

Key Points

• Generate Investment Management Ltd reduced its holdings in Waste Management by 41.5%, owning 21,237 shares valued at approximately $4.86 million after selling 15,036 shares during Q2.
• Analysts have a generally positive outlook on Waste Management, with an average target price of $255.17 and ratings of "Moderate Buy," reflecting confidence in the company's ongoing growth.
• The company recently declared a quarterly dividend of $0.825 per share, representing a 1.5% yield, with payout ratio currently at 48.96%.

Generate Investment Management Ltd trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 41.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,237 shares of the business services provider's stock after selling 15,036 shares during the period. Generate Investment Management Ltd's holdings in Waste Management were worth $4,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Westend Capital Management LLC boosted its holdings in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after purchasing an additional 66 shares during the last quarter. West Branch Capital LLC lifted its holdings in shares of Waste Management by 69.0% in 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 during the period. Saudi Central Bank purchased a new stake in shares of Waste Management in the first quarter worth about $37,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management during the first quarter worth about $38,000. Finally, New Age Alpha Advisors LLC purchased a new position in Waste Management during the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays began coverage on shares of Waste Management in a report on Friday, September 19th. They set an "overweight" rating and a $272.00 target price for the company. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a research report on Monday, June 9th. CIBC upped their price objective 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. William Blair restated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Finally, Melius assumed coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $255.17.

Waste Management Price Performance

Shares of Waste Management stock opened at $218.76 on Monday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The business has a 50 day simple moving average of $225.18 and a two-hundred day simple moving average of $228.52. The stock has a market capitalization of $88.12 billion, a P/E ratio of 32.46, a PEG ratio of 2.67 and a beta of 0.64. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58.

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 analysts' expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.825 per share. 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 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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