Waste Management, Inc. $WM Stake Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its holdings in Waste Management, Inc. (NYSE:WM) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,300 shares of the business services provider’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Waste Management were worth $4,416,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Zevenbergen Capital Investments LLC increased its position in Waste Management by 30.4% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock worth $2,158,000 after purchasing an additional 2,200 shares during the last quarter. Empowered Funds LLC increased its position in Waste Management by 82.9% in the 1st quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider’s stock worth $5,248,000 after purchasing an additional 10,272 shares during the last quarter. BROOKFIELD Corp ON increased its position in Waste Management by 25.1% in the 1st 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 during the last quarter. Finally, Czech National Bank increased its position in Waste Management by 6.7% in the 2nd 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 during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of WM stock opened at $220.00 on Thursday. The stock has a 50 day moving average of $223.47 and a two-hundred day moving average of $228.09. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The company has a market capitalization of $88.62 billion, a P/E ratio of 32.64, a P/E/G ratio of 2.66 and a beta of 0.64.

Waste Management (NYSE:WM) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.Waste Management’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on WM. Erste Group Bank lowered Waste Management from a “buy” rating to a “hold” rating in a report on Thursday, September 11th. Oppenheimer lowered their price objective on Waste Management from $265.00 to $262.00 and set an “outperform” rating on the stock in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of Waste Management in a report on Wednesday. Stifel Nicolaus initiated coverage on Waste Management in a research note on Tuesday, September 30th. They set a “buy” rating and a $252.00 target price for the company. Finally, CIBC increased their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $254.37.

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.