Waste Management, Inc. $WM Shares Sold by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. decreased its stake in Waste Management, Inc. (NYSE:WM) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,121 shares of the business services provider’s stock after selling 3,407 shares during the period. Rakuten Investment Management Inc.’s holdings in Waste Management were worth $11,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. L2 Asset Management LLC lifted its stake in shares of Waste Management by 6.9% in the fourth quarter. L2 Asset Management LLC now owns 2,027 shares of the business services provider’s stock valued at $445,000 after purchasing an additional 130 shares during the period. Bluedoor Private Wealth LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at about $2,336,000. Cynosure Group LLC raised its position in Waste Management by 216.1% during the fourth quarter. Cynosure Group LLC now owns 4,675 shares of the business services provider’s stock worth $1,027,000 after acquiring an additional 3,196 shares during the last quarter. 71 West Capital Partners acquired a new position in Waste Management during the fourth quarter worth about $263,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Waste Management during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WM. TD Cowen lifted their target price on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Robert W. Baird lifted their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Wolfe Research began coverage on shares of Waste Management in a research report on Friday, March 13th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. lifted their target price on shares of Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, Barclays lifted their target price on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.30.

Waste Management Stock Performance

Shares of NYSE WM opened at $218.73 on Wednesday. The company has a market cap of $87.84 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.27 and a beta of 0.45. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.93 and a quick ratio of 0.89. The company has a 50-day simple moving average of $222.08 and a 200-day simple moving average of $224.79.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 earnings per share. On average, equities analysts anticipate that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.945 per share. The ex-dividend date is Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management’s payout ratio is 54.70%.

Key Waste Management News

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Commentary today reiterated that WM’s irreplaceable physical network supports predictable, inflation-protected cash flow, reinforcing the stock’s appeal as a long-term “forever” holding. Why This Once-in-a-Decade Selloff Makes One Waste Management Company a Forever Stock
• Positive Sentiment: WM also reinforced its brand and operational discipline by updating its Recycle Right® guidance to warn customers not to place batteries in recycling or trash bins, a move that highlights safety focus and could help reduce facility fire risk. WM Updates Recycle Right® Rules: No Batteries in Recycling or Trash
• Neutral Sentiment: Several items referenced capital-markets activity around Waste Management entities, including debt issuance in Canada, which may support financing flexibility but does not appear to be a major stock-moving catalyst for WM’s core U.S. operations. Waste Management eyes selling $750 million in bonds
• Negative Sentiment: WM shares have recently softened amid a broader selloff in industrials and a market session where the stock fell while the wider market rose, suggesting some near-term profit-taking or valuation pressure. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.