State Board of Administration of Florida Retirement System Has $83.84 Million Holdings in Waste Management, Inc. $WM

State Board of Administration of Florida Retirement System decreased its holdings in Waste Management, Inc. (NYSE:WM) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 366,413 shares of the business services provider’s stock after selling 14,501 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.09% of Waste Management worth $83,843,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Saudi Central Bank bought a new stake in Waste Management during the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. bought a new stake in shares of Waste Management during the first quarter valued at approximately $38,000. Wealth Watch Advisors INC acquired a new stake in shares of Waste Management in the second quarter valued at approximately $43,000. New Age Alpha Advisors LLC bought a new position in Waste Management in the 1st quarter worth approximately $45,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after buying an additional 160 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.7%

WM stock opened at $217.66 on Friday. The business has a 50-day moving average of $212.38 and a 200-day moving average of $223.25. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58. The stock has a market capitalization of $87.69 billion, a P/E ratio of 34.28, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82.

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 firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company earned $1.96 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.825 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s dividend payout ratio (DPR) is currently 51.97%.

Analyst Ratings Changes

WM has been the topic of several research reports. Cowen reaffirmed a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Wells Fargo & Company initiated coverage on shares of Waste Management in a research report on Friday, November 14th. They set an “overweight” rating and a $238.00 price target for the company. Citigroup raised their price objective on shares of Waste Management from $268.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Waste Management in a research report on Tuesday. Finally, DZ Bank assumed coverage on Waste Management in a research report on Tuesday. They issued a “buy” rating and a $250.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $248.68.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This represents a 8.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.