Waste Management, Inc. $WM Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management cut its position in Waste Management, Inc. (NYSE:WM) by 13.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,635 shares of the business services provider’s stock after selling 1,224 shares during the period. OFI Invest Asset Management’s holdings in Waste Management were worth $1,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in WM. Brighton Jones LLC boosted its stake in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new position in Waste Management during the first quarter worth $325,000. GAMMA Investing LLC boosted its stake in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after buying an additional 958 shares during the last quarter. Simon Quick Advisors LLC boosted its stake in Waste Management by 5.3% during the first quarter. Simon Quick Advisors LLC now owns 1,941 shares of the business services provider’s stock worth $449,000 after buying an additional 97 shares during the last quarter. Finally, West Branch Capital LLC boosted its stake in Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after buying an additional 49 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of Waste Management stock opened at $219.09 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm has a market cap of $88.26 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The business’s fifty day simple moving average is $223.04 and its 200-day simple moving average is $227.97.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WM. William Blair reissued an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. National Bankshares lowered their price objective on 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. UBS Group boosted their price objective on Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Oppenheimer decreased their price target on Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average price target of $254.32.

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.