Wellington Management Group LLP Sells 60,207 Shares of Waste Management, Inc. $WM

Key Points

• Wellington Management Group LLP reduced its stake in Waste Management, Inc. by 23.1%, holding 200,703 shares valued at approximately $46.47 million after selling 60,207 shares.
• The company reported a quarterly earnings per share of $1.92, exceeding estimates, alongside a revenue increase of 19.0% year-over-year, totaling $6.43 billion.
• Waste Management announced a quarterly dividend of $0.825 per share, translating to an annual yield of 1.5%, with a dividend payout ratio of 48.96%.

Wellington Management Group LLP decreased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 23.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,703 shares of the business services provider's stock after selling 60,207 shares during the period. Wellington Management Group LLP's holdings in Waste Management were worth $46,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WM. T. Rowe Price Investment Management Inc. boosted its position in shares of Waste Management by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock worth $781,000 after buying an additional 44 shares during the period. Ascent Group LLC boosted its position in shares of Waste Management by 0.6% during the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock worth $1,520,000 after buying an additional 44 shares during the period. Insight Wealth Strategies LLC boosted its position in shares of Waste Management by 0.4% during the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock worth $2,698,000 after buying an additional 44 shares during the period. Stonebridge Financial Group LLC boosted its position in shares of Waste Management by 3.0% during the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after buying an additional 45 shares during the period. Finally, Formidable Asset Management LLC boosted its position in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Up 0.6%

Waste Management stock traded up $1.32 during mid-day trading on Tuesday, hitting $225.36. 1,466,840 shares of the company's stock were exchanged, compared to its average volume of 1,838,790. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a market cap of $90.78 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.75 and a beta of 0.64. 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 of $228.90 and a two-hundred day moving average of $229.81.

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

Waste Management Announces Dividend

The company also recently declared 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 yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's dividend payout ratio is 48.96%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Melius initiated coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. William Blair reissued an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Raymond James Financial upped their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. National Bank Financial raised shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Finally, Citigroup upped their price target on shares of Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

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.