Waste Management, Inc. $WM is Sustainable Growth Advisers LP’s 10th Largest Position

Sustainable Growth Advisers LP boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 55.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,897,636 shares of the business services provider’s stock after purchasing an additional 1,034,258 shares during the quarter. Waste Management accounts for about 3.4% of Sustainable Growth Advisers LP’s holdings, making the stock its 10th biggest position. Sustainable Growth Advisers LP’s holdings in Waste Management were worth $663,037,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Truist Financial set a $260.00 price target on shares of Waste Management in a report on Wednesday, October 29th. Raymond James Financial lifted their price target on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Wells Fargo & Company assumed coverage on Waste Management in a report on Friday. They issued an “overweight” rating and a $238.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Waste Management in a research note on Thursday. Finally, Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.25.

Waste Management Price Performance

Shares of NYSE:WM opened at $208.97 on Friday. The company has a market cap of $84.19 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 2.51 and a beta of 0.62. The business has a 50 day moving average price of $212.87 and a 200 day moving average price of $224.42. 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 twelve month low of $194.11 and a twelve month high of $242.58.

Waste Management (NYSE:WM) last released its earnings results on Monday, October 27th. The business services provider reported $1.98 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $1.96 earnings per share. Waste Management’s revenue for the quarter was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.30 annualized dividend and a yield of 1.6%. Waste Management’s dividend payout ratio is 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.