Renaissance Group LLC Reduces Stock Holdings in Waste Management, Inc. $WM

Renaissance Group LLC reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 9.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 142,237 shares of the business services provider’s stock after selling 14,015 shares during the quarter. Renaissance Group LLC’s holdings in Waste Management were worth $32,547,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WM. Vanguard Group Inc. increased its holdings in shares of Waste Management by 0.8% during the second quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock valued at $8,617,866,000 after acquiring an additional 292,868 shares in the last quarter. Geode Capital Management LLC grew its position in Waste Management by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock worth $1,972,856,000 after purchasing an additional 126,329 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Waste Management by 1.8% in the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock worth $941,709,000 after buying an additional 70,907 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 worth $774,000,000 after buying an additional 709,557 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WM. CIBC reduced 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. Sanford C. Bernstein started coverage on Waste Management in a report on Wednesday, November 12th. They set an “outperform” rating and a $255.00 target price for the company. Cowen reiterated a “buy” rating on shares of Waste Management in a report on Wednesday, October 29th. UBS Group decreased 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. Finally, Barclays cut their price objective on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.25.

Waste Management Trading Up 1.6%

Waste Management stock opened at $211.29 on Wednesday. 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 firm has a market cap of $85.12 billion, a PE ratio of 33.27, a P/E/G ratio of 2.51 and a beta of 0.62. The stock’s 50 day simple moving average is $212.49 and its two-hundred day simple moving average is $223.98. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58.

Waste Management (NYSE:WM) last posted its earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. 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 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. Waste Management’s dividend payout ratio is presently 51.97%.

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.