Waste Management, Inc. $WM Shares Purchased by ICONIQ Capital LLC

ICONIQ Capital LLC raised its stake in Waste Management, Inc. (NYSE:WM) by 39.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,014 shares of the business services provider’s stock after buying an additional 574 shares during the quarter. ICONIQ Capital LLC’s holdings in Waste Management were worth $466,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the period. Golden State Wealth Management LLC increased its stake in Waste Management by 41.7% during the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider’s stock worth $183,000 after purchasing an additional 232 shares during the period. Calamos Advisors LLC increased its stake in Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider’s stock worth $65,633,000 after purchasing an additional 7,751 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider’s stock worth $137,108,000 after purchasing an additional 24,023 shares during the period. Finally, GAMMA Investing LLC increased its stake in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after purchasing an additional 958 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of Waste Management stock opened at $226.9430 on Monday. The firm has a market capitalization of $91.42 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.78 and a beta of 0.64. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm’s 50 day moving average is $229.28 and its two-hundred day moving average is $229.85.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th 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%. Waste Management’s dividend payout ratio (DPR) is presently 48.96%.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the transaction, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WM. Wall Street Zen upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. BMO Capital Markets boosted their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 30th. Melius Research upgraded shares of Waste Management to a “strong-buy” rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. CIBC upped their target price on shares of Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, June 26th. Finally, Citigroup upped their target price on shares of Waste Management from $260.00 to $271.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.35.

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.