Rockefeller Capital Management L.P. Cuts Stock Holdings in Waste Management, Inc. $WM

Rockefeller Capital Management L.P. lowered its position in Waste Management, Inc. (NYSE:WM) by 37.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,009 shares of the business services provider’s stock after selling 73,838 shares during the period. Rockefeller Capital Management L.P.’s holdings in Waste Management were worth $28,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WM. Saudi Central Bank bought a new position in shares of Waste Management during the 1st quarter worth approximately $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management in the first quarter valued at approximately $38,000. Wealth Watch Advisors INC purchased a new stake in shares of Waste Management during the second quarter valued at approximately $43,000. New Age Alpha Advisors LLC bought a new stake in Waste Management during the first quarter worth $45,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in Waste Management by 381.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 202 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 160 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WM has been the topic of a number of recent analyst reports. Raymond James Financial lifted their target price on Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Citigroup lifted their price objective 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. BMO Capital Markets increased their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research report on Wednesday, July 30th. Barclays lowered their price target on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, National Bankshares reduced their price objective on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average price target of $248.25.

Waste Management Stock Performance

Shares of WM stock opened at $207.74 on Tuesday. The firm’s 50 day moving average is $212.64 and its 200 day moving average is $224.14. The stock has a market capitalization of $83.69 billion, a P/E ratio of 32.71, a PEG 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. 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 analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the firm earned $1.96 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 5th. Waste Management’s payout ratio is presently 51.97%.

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.