RBO & Co. LLC Has $12.84 Million Position in Waste Management, Inc. $WM

RBO & Co. LLC increased its position in shares of Waste Management, Inc. (NYSE:WM) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,471 shares of the business services provider’s stock after purchasing an additional 264 shares during the period. Waste Management makes up about 2.0% of RBO & Co. LLC’s portfolio, making the stock its 24th biggest holding. RBO & Co. LLC’s holdings in Waste Management were worth $12,842,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its holdings in Waste Management by 1.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider’s stock worth $781,000 after purchasing an additional 44 shares during the last quarter. Ascent Group LLC lifted its position in shares of Waste Management by 0.6% during the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock valued at $1,520,000 after acquiring an additional 44 shares during the period. Insight Wealth Strategies LLC lifted its position in shares of Waste Management by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock valued at $2,698,000 after acquiring an additional 44 shares during the period. Stonebridge Financial Group LLC lifted its position in shares of Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after acquiring an additional 45 shares during the period. Finally, Formidable Asset Management LLC lifted its position in shares of Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after acquiring an additional 45 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer owned 83,934 shares of the company’s stock, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president directly owned 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of WM stock opened at $226.9430 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a market cap of $91.42 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.82 and a beta of 0.64. The business has a fifty day simple moving average of $229.28 and a 200 day simple moving average of $229.77.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company earned $1.82 EPS. Waste Management’s revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management’s payout ratio is presently 48.96%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Waste Management from a “neutral” rating to an “overweight” rating and upped their target price for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Oppenheimer upped their target price on Waste Management from $260.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. BMO Capital Markets upped their target price on Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. CIBC upped their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Finally, Citigroup upped their target price on Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $254.35.

Waste Management Company 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.