Shelton Capital Management Trims Stock Position in Waste Management, Inc. $WM

Shelton Capital Management cut its holdings in Waste Management, Inc. (NYSE:WM) by 31.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,620 shares of the business services provider’s stock after selling 14,224 shares during the quarter. Shelton Capital Management’s holdings in Waste Management were worth $7,006,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. 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 worth $343,000 after buying an additional 44 shares in the last quarter. Syntegra Private Wealth Group LLC raised its stake in Waste Management by 2.0% in the 2nd quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock valued at $524,000 after purchasing an additional 44 shares during the last quarter. Harbour Trust & Investment Management Co boosted its stake in shares of 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 worth $943,000 after purchasing an additional 45 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Waste Management by 3.1% during 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 in the last quarter. Finally, KWB Wealth raised its position in shares of Waste Management by 1.3% in the second quarter. KWB Wealth now owns 3,607 shares of the business services provider’s stock valued at $835,000 after buying an additional 47 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup lifted their target price on shares of Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. National Bankshares lowered their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 7th. Scotiabank dropped their target price on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 29th. Royal Bank Of Canada decreased their price target on Waste Management from $234.00 to $223.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 29th. Finally, UBS Group dropped their price objective on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.14.

Waste Management Price Performance

WM stock opened at $215.69 on Tuesday. The firm has a market cap of $86.89 billion, a P/E ratio of 33.97, a price-to-earnings-growth 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, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The stock has a 50-day simple moving average of $212.38 and a 200-day simple moving average of $223.12.

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

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s payout ratio is presently 51.97%.

Insider Activity at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.