Illinois Municipal Retirement Fund Has $3.35 Million Holdings in Waste Management, Inc. $WM

Illinois Municipal Retirement Fund reduced its holdings in shares of Waste Management, Inc. (NYSE:WM) by 19.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,635 shares of the business services provider’s stock after selling 3,631 shares during the period. Illinois Municipal Retirement Fund’s holdings in Waste Management were worth $3,349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its position in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the period. Sprott Inc. bought a new position in Waste Management during the first quarter worth $325,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Waste Management in the first quarter worth $290,000. Wealthfront Advisers LLC increased its stake in Waste Management by 6.4% in the first quarter. Wealthfront Advisers LLC now owns 55,395 shares of the business services provider’s stock valued at $12,824,000 after purchasing an additional 3,322 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its holdings in shares of Waste Management by 80.7% during the first quarter. Sage Mountain Advisors LLC now owns 2,507 shares of the business services provider’s stock valued at $580,000 after purchasing an additional 1,120 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $203.94 on Thursday. The business’s 50 day simple moving average is $213.50 and its 200 day simple moving average is $224.70. 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 $82.16 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 2.51 and a beta of 0.62. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last issued its earnings results 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). The firm had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on WM shares. 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 report on Wednesday, October 29th. Weiss Ratings downgraded Waste Management from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Truist Financial set a $260.00 target price on Waste Management in a report on Wednesday, October 29th. Baird R W upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Waste Management from $277.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.79.

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.