Waste Management, Inc
At today's price, Waste Management, Inc (WM) is priced for +8.7% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
- The moat is structural: a 27.9 percent ROE on a thin 24.78-dollar book value reflects an irreplaceable landfill network plus contractual pricing power, with fees structured to pass through costs including an energy surcharge (FY2025 10-K, accession 0001104659-26-012049). - Capital return is aggressive: a 14.5 percent dividend hike to 3.78 dollars annually (23rd consecutive year of increases) and a 3 billion dollar buyback, returning roughly 90 percent of 2026 free cash flow, while integrating
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2,297 institutional managers reported holding WM in 13F filings for the quarter ended 2026-03-31. Together they hold about 81% of the company; the top 10 hold 39%. 157 opened new positions that quarter. Held by Vanguard Group, BlackRock, Gates Foundation Trust, among others. On the short side, 6.5M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
WM has cut its share count 4.4% over the past five years, spending $4.28B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 16 years straight; the current rate is $3.30 a share annually. Cash returned over the past three years: $3.49B in dividends and $1.31B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at WM over the trailing three years: 2025: 1 buy totaling $393k. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
WM's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-27 | -4.0% | -5.8% |
| 2023-10-26 | +5.2% | +9.4% |
| 2024-02-14 | +5.8% | +3.5% |
| 2024-04-26 | -0.2% | +1.5% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
WM's latest 8-K filings: 2026-05-14 (items 5.07, 9.01); 2026-05-13 (items 5.02, 9.01); 2026-04-28 (items 2.02, 9.01); 2026-03-25 (items 1.01, 9.01); 2026-03-13 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.