Several institutional investors have changed their investments in Waste Management. In Q1, Sustainable Growth Advisers LP bought about $300 million in shares. Capital World Investors increased its stake by 44.6%, now owning over 4.2 million shares worth about $901 million. Swedbank AB acquired approximately $194 million in Waste Management shares. Wulff Hansen & Co raised its stake by over 20,000%, acquiring nearly 868,000 shares valued at $185 million. AMF Tjanstepension AB grew its stake by 85.6%, now holding about 1.6 million shares valued at $333 million. Institutional investors now own 80.40% of the company.
Analyst Ratings Changes
Analysts have recently adjusted their ratings on Waste Management (WM). Robert W. Baird lowered their price target from $226 to $216 with a “neutral” rating. Erste Group maintained a “hold” rating. Truist Financial decreased the target from $240 to $235 while keeping a “buy” rating. BMO Capital Markets set a new target of $213, and CIBC also cut their target to $213, both with “neutral” ratings. Overall, the consensus rating is a “Moderate Buy” with an average price target of $215.83, according to MarketBeat.com.
View Our Latest Analysis on WM
Waste Management Trading Update
As of Thursday, Waste Management’s stock (NYSE:WM) is trading at $207.32. The company has a market cap of $83.20 billion, a P/E ratio of 33.93, and a beta of 0.74. Its 50-day moving average is $206.34, and the 52-week range is between $149.71 and $225.00. In its latest earnings report on July 24, Waste Management reported $1.82 earnings per share, meeting estimates but slightly missing revenue expectations of $5.43 billion with actual revenue of $5.40 billion. The company’s revenue increased by 5.5% year-over-year.
Dividend Announcement
Waste Management recently paid a quarterly dividend of $0.75 on September 27, with an annualized yield of 1.45%. The ex-dividend date was September 13, and the payout ratio is 49.10%.
Insider Activity
On July 16, VP Michael J. Watson sold 1,500 shares at an average price of $220.00, totaling $330,000. After this sale, he holds 44,144 shares valued at approximately $9.7 million. Insiders own 0.18% of the company’s stock.
About Waste Management
Waste Management, Inc. provides environmental solutions in the U.S. and Canada, offering waste collection, transporting, recycling, and operating landfills that generate renewable energy.
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