Los Angeles Capital Management LLC Lowers Position in Waste Management, Inc. $WM

Los Angeles Capital Management LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 16.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,736 shares of the business services provider’s stock after selling 35,193 shares during the period. Los Angeles Capital Management LLC’s holdings in Waste Management were worth $39,525,000 at the end of the most recent quarter.

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

Waste Management Price Performance

Waste Management stock opened at $201.87 on Friday. 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 company has a fifty day simple moving average of $214.88 and a 200-day simple moving average of $225.24. The stock has a market cap of $81.33 billion, a P/E ratio of 31.79, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. 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 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 business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s dividend payout ratio is 51.97%.

Analyst Upgrades and Downgrades

WM has been the topic of several research analyst reports. Truist Financial set a $260.00 price objective on Waste Management in a report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their target price on Waste Management from $277.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Citigroup increased their price target on shares of Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $238.00 to $242.00 in a report on Tuesday, November 4th. Finally, Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $248.44.

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.