Insigneo Advisory Services LLC Lowers Stake in Waste Management, Inc. $WM

Insigneo Advisory Services LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 34.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,203 shares of the business services provider’s stock after selling 1,665 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Waste Management were worth $733,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Saudi Central Bank acquired a new position in Waste Management in the first quarter valued at $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management during the first quarter worth approximately $38,000. Wealth Watch Advisors INC acquired a new position in Waste Management during the second quarter worth approximately $43,000. New Age Alpha Advisors LLC purchased a new position in Waste Management during the first quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Waste Management by 381.0% during 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. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of WM stock opened at $211.90 on Tuesday. The firm has a fifty day simple moving average of $212.26 and a 200-day simple moving average of $223.44. The company has a market capitalization of $85.37 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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 return on equity of 33.00% and a net margin of 10.35%.The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the prior year, the firm earned $1.96 EPS. The business’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 research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis 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 brokerages recently weighed in on WM. Weiss Ratings upgraded Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, November 19th. Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $238.00 to $242.00 in a research note on Tuesday, November 4th. Royal Bank Of Canada decreased their target price on Waste Management from $234.00 to $223.00 and set a “sector perform” rating for the company in a report on Wednesday, October 29th. Scotiabank cut their price target on shares of Waste Management from $264.00 to $254.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 29th. Finally, CIBC decreased their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $248.62.

About Waste Management

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.