Renaissance Group LLC Sells 14,015 Shares of Waste Management, Inc. $WM

Renaissance Group LLC decreased its stake in Waste Management, Inc. (NYSE:WM) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 142,237 shares of the business services provider’s stock after selling 14,015 shares during the quarter. Renaissance Group LLC’s holdings in Waste Management were worth $32,547,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. McAdam LLC increased its position in Waste Management by 3.1% during the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock valued at $343,000 after acquiring an additional 44 shares during the last quarter. Syntegra Private Wealth Group LLC boosted its stake in shares of Waste Management by 2.0% during the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock worth $524,000 after purchasing an additional 44 shares during the period. Harbour Trust & Investment Management Co grew its holdings in Waste Management by 1.1% during the 2nd quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock valued at $943,000 after purchasing an additional 45 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Waste Management by 3.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock worth $349,000 after purchasing an additional 46 shares during the period. Finally, KWB Wealth lifted its stake in Waste Management by 1.3% in the second quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock worth $835,000 after purchasing an additional 47 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Up 1.6%

NYSE:WM opened at $211.29 on Wednesday. The firm has a 50-day simple moving average of $212.49 and a 200-day simple moving average of $223.98. Waste Management, Inc. has a one year low of $194.11 and a one year high of $242.58. The firm has a market cap of $85.12 billion, a P/E ratio of 33.27, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal 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 given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s dividend payout ratio is presently 51.97%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays cut their target price on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Stifel Nicolaus decreased their target price on Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Oppenheimer restated an “outperform” rating and issued a $262.00 price target on shares of Waste Management in a report on Wednesday, October 29th. Citigroup boosted their price objective on shares of Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $248.25.

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.