Prudential PLC Cuts Holdings in Waste Management, Inc. $WM

Prudential PLC reduced its position in Waste Management, Inc. (NYSE:WM) by 56.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,151 shares of the business services provider’s stock after selling 19,874 shares during the period. Prudential PLC’s holdings in Waste Management were worth $3,467,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wealthfront Advisers LLC raised its stake in Waste Management by 3.1% during the 2nd quarter. Wealthfront Advisers LLC now owns 57,093 shares of the business services provider’s stock valued at $13,064,000 after acquiring an additional 1,698 shares in the last quarter. GPM Growth Investors Inc. increased its holdings in shares of Waste Management by 50.6% during the second quarter. GPM Growth Investors Inc. now owns 16,640 shares of the business services provider’s stock valued at $3,808,000 after purchasing an additional 5,588 shares during the period. Machina Capital S.A.S. bought a new stake in shares of Waste Management during the second quarter valued at about $4,361,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Waste Management in the second quarter worth about $6,865,000. Finally, Zevenbergen Capital Investments LLC increased its stake in Waste Management by 30.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider’s stock valued at $2,158,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WM. Baird R W upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Scotiabank decreased their price target on Waste Management from $264.00 to $254.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 29th. Weiss Ratings upgraded Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Stifel Nicolaus decreased their target price on Waste Management from $252.00 to $236.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, BMO Capital Markets upped their price target on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $248.25.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Waste Management Trading Down 0.0%

Shares of NYSE WM opened at $216.71 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $242.58. The company has a market cap of $87.31 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 2.51 and a beta of 0.62. The business has a fifty day simple moving average of $212.34 and a 200-day simple moving average of $223.75.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm posted $1.96 EPS. Waste Management’s quarterly revenue was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

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.