AlTi Global Inc. Increases Stock Position in Waste Management, Inc. (NYSE:WM)

AlTi Global Inc. raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 35.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,802 shares of the business services provider’s stock after purchasing an additional 473 shares during the period. AlTi Global Inc.’s holdings in Waste Management were worth $384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital World Investors lifted its position in Waste Management by 44.6% during the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Waste Management by 11.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after buying an additional 221,380 shares during the period. AMF Tjanstepension AB boosted its stake in shares of Waste Management by 85.6% in the 2nd quarter. AMF Tjanstepension AB now owns 1,561,939 shares of the business services provider’s stock worth $333,234,000 after buying an additional 720,358 shares during the last quarter. Capital International Investors increased its position in Waste Management by 0.3% during the fourth quarter. Capital International Investors now owns 1,521,449 shares of the business services provider’s stock valued at $272,491,000 after acquiring an additional 5,103 shares during the last quarter. Finally, Mirova US LLC lifted its holdings in Waste Management by 2.0% in the second quarter. Mirova US LLC now owns 1,442,917 shares of the business services provider’s stock valued at $307,832,000 after acquiring an additional 28,180 shares during the period. Institutional investors own 80.40% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the subject of several recent research reports. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Erste Group Bank restated a “hold” rating on shares of Waste Management in a research note on Friday, June 14th. Robert W. Baird dropped their price target on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. BMO Capital Markets lowered their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a research note on Friday, July 26th. Finally, StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $215.83.

Insider Buying and Selling at Waste Management

In related news, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Waste Management Trading Down 1.1 %

Shares of NYSE WM opened at $205.34 on Friday. The business’s 50 day moving average price is $207.78 and its 200-day moving average price is $208.69. The company has a market cap of $82.41 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.32 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the firm posted $1.51 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, September 13th. Waste Management’s dividend payout ratio (DPR) is presently 49.10%.

Waste Management 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.