Rogco LP Cuts Position in Waste Management, Inc. $WM

Rogco LP lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,318 shares of the business services provider’s stock after selling 426 shares during the quarter. Rogco LP’s holdings in Waste Management were worth $1,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares in the last quarter. Empowered Funds LLC raised its position in Waste Management by 82.9% during the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock worth $5,248,000 after acquiring an additional 10,272 shares during the period. Zevenbergen Capital Investments LLC grew its position in shares of Waste Management by 30.4% in the second quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after purchasing an additional 2,200 shares during the period. BROOKFIELD Corp ON increased its stake in shares of Waste Management by 25.1% during the first quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider’s stock worth $4,661,000 after purchasing an additional 4,043 shares in the last quarter. Finally, Czech National Bank increased its stake in shares of Waste Management by 6.7% during the second quarter. Czech National Bank now owns 89,510 shares of the business services provider’s stock worth $20,482,000 after purchasing an additional 5,620 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Waste Management stock opened at $220.85 on Wednesday. The firm has a 50 day simple moving average of $224.93 and a 200-day simple moving average of $228.43. The stock has a market cap of $88.97 billion, a price-to-earnings ratio of 32.77, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm’s quarterly 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. On average, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date was Friday, September 12th. Waste Management’s payout ratio is 48.96%.

Wall Street Analysts Forecast Growth

WM has been the topic of several research analyst reports. BMO Capital Markets lifted their price objective on Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Raymond James Financial raised their target price on Waste Management from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. UBS Group boosted their price target on Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Citigroup reduced their price objective on Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a research note on Tuesday, September 16th. Finally, Melius Research raised 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. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $255.17.

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.