Several institutional investors changed their stakes in Waste Management. Sustainable Growth Advisers LP bought a new stake valued at about $300.6 million. Capital World Investors increased its position by 44.6% and now owns over $900.9 million worth of shares. Swedbank AB also bought a new stake of around $193.9 million. Wulff Hansen & CO. increased its position by over 20,000% to 868,080 shares worth $185.2 million. AMF Tjanstepension AB raised its stake by 85.6% to $333.2 million. Currently, 80.40% of the company is owned by institutional investors.
Analyst Ratings Changes
Analysts have recently adjusted their ratings on Waste Management (WM). Robert W. Baird lowered its price target from $226 to $216, giving it a “neutral” rating. Truist Financial and BMO Capital Markets also reduced their targets slightly. Overall, 11 analysts recommend holding the stock, 8 recommend buying, and 2 suggest a strong buy. The average target price is $215.83.
Waste Management Trading Down 0.3%
As of Thursday, WM opened at $207.32 with a market cap of $83.2 billion. Its price-to-earnings (P/E) ratio stands at 33.93. The stock has fluctuated between a low of $149.71 and a high of $225.00 over the past year. Waste Management’s latest earnings were $1.82 per share, matching expectations, with quarterly revenue of $5.40 billion, slightly below estimates. Analysts project an EPS of 7.24 for the current fiscal year.
Dividend Announcement
Waste Management recently paid a dividend of $0.75 on September 27th for stockholders recorded on September 13th, equating to an annualized dividend of $3.00 and a yield of 1.45%. The company has a payout ratio of 49.10%.
Insider Transactions
Michael J. Watson, VP, sold 1,500 shares at $220.00 each for a total of $330,000. He now holds 44,144 shares valued at approximately $9.7 million. Insiders own 0.18% of the stock.
About Waste Management
Waste Management, Inc. provides waste management services in the U.S. and Canada. Their services include collection, recycling, and landfill operations that produce renewable natural gas.
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