Waste Management, Inc. $WM Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its holdings in Waste Management, Inc. (NYSE:WM) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,258 shares of the business services provider’s stock after selling 2,841 shares during the quarter. Waste Management accounts for about 0.8% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 23rd largest position. Sumitomo Life Insurance Co.’s holdings in Waste Management were worth $11,729,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. McAdam LLC grew its position in Waste Management by 3.1% in the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after buying an additional 44 shares during the last quarter. Syntegra Private Wealth Group LLC grew its position in Waste Management by 2.0% in the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock worth $524,000 after buying an additional 44 shares during the last quarter. Formidable Asset Management LLC grew its position in 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 worth $536,000 after buying an additional 45 shares during the last quarter. Harbour Trust & Investment Management Co grew its position in Waste Management by 1.1% in the second quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock worth $943,000 after buying an additional 45 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in Waste Management by 3.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock worth $349,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on WM shares. Raymond James Financial lifted their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. CIBC lowered their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $262.00 price objective on shares of Waste Management in a research report on Wednesday. Royal Bank Of Canada lowered their price objective on shares of Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets lifted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.61.

Waste Management Trading Down 0.3%

Shares of NYSE:WM opened at $200.03 on Friday. The firm has a fifty day moving average of $217.43 and a two-hundred day moving average of $226.28. The firm has a market capitalization of $80.58 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $197.02 and a 12-month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last issued its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same period last year, the business earned $1.96 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. Waste Management’s payout ratio is currently 51.97%.

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.