Waste Management, Inc. $WM Stock Holdings Decreased by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System decreased its stake in Waste Management, Inc. by 0.5%, holding 265,454 shares valued at approximately $60.74 million.
• Waste Management reported a quarterly earnings per share of $1.92, surpassing analyst expectations of $1.89, alongside a revenue of $6.43 billion.
• Recent analyst ratings show a positive outlook, with Scotiabank raising the price target to $275.00 and the company currently having a consensus rating of "Moderate Buy."

New York State Teachers Retirement System lowered its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 0.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 265,454 shares of the business services provider's stock after selling 1,420 shares during the period. New York State Teachers Retirement System owned 0.07% of Waste Management worth $60,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of Waste Management by 0.3% in the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 95,508 shares of the business services provider's stock worth $21,854,000 after purchasing an additional 330 shares during the last quarter. Mutual Advisors LLC grew its position in shares of Waste Management by 6.8% during the 2nd quarter. Mutual Advisors LLC now owns 11,670 shares of the business services provider's stock valued at $2,680,000 after buying an additional 748 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Waste Management by 9.7% during the 2nd quarter. Ritholtz Wealth Management now owns 22,443 shares of the business services provider's stock valued at $5,135,000 after buying an additional 1,986 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Waste Management by 1.7% during the 2nd quarter. Harbour Investments Inc. now owns 11,020 shares of the business services provider's stock valued at $2,522,000 after buying an additional 189 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Waste Management during the 2nd quarter valued at about $360,000. Institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on WM. Scotiabank boosted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus began coverage on shares of Waste Management in a research report on Tuesday, September 30th. They set a "buy" rating and a $252.00 price objective for the company. CIBC boosted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Royal Bank Of Canada reissued a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. Finally, Oppenheimer reduced their target price on shares of Waste Management from $265.00 to $262.00 and set an "outperform" rating for the company in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $253.00.

Waste Management Trading Down 0.3%

Shares of NYSE:WM opened at $212.99 on Friday. The company has a 50 day moving average of $221.79 and a 200-day moving average of $227.59. The firm has a market cap of $85.80 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.63 and a beta of 0.64. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. 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 (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

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

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.

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