MBM Wealth Consultants LLC Cuts Stock Position in Waste Management, Inc. $WM

MBM Wealth Consultants LLC trimmed its holdings in Waste Management, Inc. (NYSE:WM) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,397 shares of the business services provider’s stock after selling 253 shares during the period. Waste Management comprises about 0.5% of MBM Wealth Consultants LLC’s investment portfolio, making the stock its 28th biggest position. MBM Wealth Consultants LLC’s holdings in Waste Management were worth $1,921,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WM. Norges Bank purchased a new position in Waste Management in the 2nd quarter worth approximately $1,064,206,000. Valeo Financial Advisors LLC raised its position in shares of Waste Management by 15,782.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,728,486 shares of the business services provider’s stock valued at $395,512,000 after buying an additional 1,717,603 shares during the last quarter. Nuveen LLC purchased a new position in shares of Waste Management in the first quarter worth $333,089,000. Ameriprise Financial Inc. grew its stake in Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock valued at $1,233,240,000 after acquiring an additional 1,239,996 shares in the last quarter. Finally, Sustainable Growth Advisers LP increased its holdings in Waste Management by 55.5% in the 2nd quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock valued at $663,037,000 after acquiring an additional 1,034,258 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on WM shares. CIBC dropped their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and increased their price target for the company from $238.00 to $242.00 in a research note on Tuesday, November 4th. Truist Financial set a $260.00 price objective on Waste Management in a research note on Wednesday, October 29th. The Goldman Sachs Group began coverage on Waste Management in a research report on Monday, November 24th. They set a “buy” rating and a $256.00 target price for the company. Finally, Cowen restated a “buy” rating on shares of Waste Management in a research report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $248.68.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 1,380 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the completion of the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. The trade was a 8.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

NYSE:WM opened at $217.97 on Monday. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.82 and a current ratio of 0.84. The stock’s fifty day moving average is $212.41 and its 200 day moving average is $223.21. The firm has a market capitalization of $87.81 billion, a PE ratio of 34.33, a PEG ratio of 2.51 and a beta of 0.62. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The firm had revenue of $6.44 billion for 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 company’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. Waste Management’s dividend payout ratio is currently 51.97%.

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.