Waste Management, Inc. $WM Shares Sold by FORA Capital LLC

Key Points

• FORA Capital LLC has reduced its stake in Waste Management, Inc. by 31.5%, owning 3,546 shares worth approximately $821,000 after selling 1,627 shares in the first quarter.
• Waste Management reported earnings of $1.92 per share for the latest quarter, exceeding analyst expectations of $1.89, while revenue reached $6.43 billion, a 19% increase year-over-year.
• The company declared a quarterly dividend of $0.825, resulting in an annualized dividend yield of 1.5%, with the ex-dividend date set for September 12th.

FORA Capital LLC lessened its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 31.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,546 shares of the business services provider's stock after selling 1,627 shares during the period. FORA Capital LLC's holdings in Waste Management were worth $821,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ascent Group LLC lifted its holdings 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 in the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $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% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after buying an additional 45 shares during the last quarter. Formidable Asset Management LLC raised its position in shares of Waste Management by 2.0% in the first 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 during the last quarter. Finally, KRS Capital Management LLC raised its position in shares of Waste Management by 3.1% in the first quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider's stock valued at $358,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

WM has been the subject of a number of analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. National Bank Financial raised shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. BMO Capital Markets boosted 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 report on Wednesday, July 30th. Melius initiated coverage on shares of Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. Finally, Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Trading Up 0.9%

WM traded up $2.11 during trading on Monday, hitting $226.69. 1,527,535 shares of the company's stock were exchanged, compared to its average volume of 1,640,870. 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 1 year low of $199.69 and a 1 year high of $242.58. The stock has a 50 day moving average price of $228.48 and a 200 day moving average price of $229.80. The firm has a market cap of $91.32 billion, a P/E ratio of 33.63, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th. Waste Management's dividend payout ratio is 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.