KBC Group NV Sells 3,229 Shares of Waste Management, Inc. $WM

KBC Group NV lessened its position in Waste Management, Inc. (NYSE:WM) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,631 shares of the business services provider’s stock after selling 3,229 shares during the period. KBC Group NV’s holdings in Waste Management were worth $79,544,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Saudi Central Bank bought a new position in Waste Management in the 1st quarter valued at approximately $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management during the first quarter valued at $38,000. Wealth Watch Advisors INC acquired a new position in shares of Waste Management during the second quarter worth $43,000. New Age Alpha Advisors LLC bought a new stake in shares of Waste Management in the first quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Waste Management by 381.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 160 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of Waste Management stock opened at $203.26 on Wednesday. The company has a market cap of $81.88 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. 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, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58. The business has a 50 day moving average price of $213.90 and a 200-day moving average price of $224.85.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 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 during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Raymond James Financial increased their target price on shares of Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Oppenheimer reissued an “outperform” rating and set a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Barclays decreased their price target on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. JPMorgan Chase & Co. cut their target price on Waste Management from $277.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, William Blair restated an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $248.44.

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.