Russell Investments Group Ltd. Decreases Holdings in Waste Management, Inc. $WM

Russell Investments Group Ltd. trimmed its stake in Waste Management, Inc. (NYSE:WM) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,516 shares of the business services provider’s stock after selling 15,596 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Waste Management worth $103,078,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of WM. Valeo Financial Advisors LLC increased its position in Waste Management by 15,782.4% in the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock worth $395,512,000 after buying an additional 1,717,603 shares during the last quarter. Nuveen LLC bought a new position in shares of Waste Management during the 1st quarter worth $333,089,000. Ameriprise Financial Inc. increased its holdings in Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after acquiring an additional 1,239,996 shares during the last quarter. Sustainable Growth Advisers LP raised its stake in Waste Management by 55.5% in the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock valued at $663,037,000 after acquiring an additional 1,034,258 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Waste Management by 26.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider’s stock valued at $774,000,000 after purchasing an additional 709,557 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the transaction, the senior vice president owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This represents a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Stock Performance

Shares of WM opened at $217.66 on Thursday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-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. The company has a market cap of $87.69 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. The stock has a 50-day moving average price of $212.34 and a 200-day moving average price of $223.29.

Waste Management (NYSE:WM) last announced its 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). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued 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 currently 51.97%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Waste Management in a research report on Friday, November 14th. They issued an “overweight” rating and a $238.00 price target on the stock. Barclays lowered their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Royal Bank Of Canada cut their price target 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Waste Management in a research note on Tuesday. Finally, CIBC cut their target price on 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, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $248.68.

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.