WM Falls After Q3 Results Highlight Volume Pressure and Margin Headwinds

WM (WM) is down 4.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The selloff appears tied to an earnings-driven reset rather than a single severe negative surprise. WM posted revenue growth and reaffirmed full-year guidance, but investors may be focusing on declining collection and disposal volumes, higher fuel and risk-management costs, and the lack of a guidance increase after a strong run in the stock.

Details:

WM reported third-quarter revenue growth of 6.3%, helped by pricing, energy surcharges, and stronger recycling and renewable energy activity.

Collection and disposal volume slipped 0.4%, with the company pointing to lower-margin residential shedding and commercial weakness tied to earlier broker account losses.

Operating efficiency improved in the core business, but those gains were more than offset by higher fuel costs and increased risk-management costs, leading to adjusted operating EBITDA margin compression of 10 basis points.

WM kept its 2026 outlook in place and said revenue and free cash flow should land near the high end of prior ranges, which could be disappointing for traders who were looking for a cleaner beat-and-raise result.

Sources:

WM, Business Wire, Finviz

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$WM Insider Trading Activity

$WM insiders have traded $WM stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $WM stock by insiders over the last 6 months:

RAFAEL CARRASCO (SVP of Enterprise Strategy) sold 2,655 shares for an estimated $585,334
JOHN A. CARROLL (VP & Chief Accounting Officer) sold 1,365 shares for an estimated $300,163

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$WM Hedge Fund Activity

We have seen 1,040 institutional investors add shares of $WM stock to their portfolio, and 1,070 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,348,368 shares (+inf%) to their portfolio in Q2 2026, for an estimated $523,404,259
JPMORGAN CHASE & CO added 2,250,680 shares (+inf%) to their portfolio in Q2 2026, for an estimated $501,631,558
CAPITAL RESEARCH GLOBAL INVESTORS added 1,706,093 shares (+19.5%) to their portfolio in Q2 2026, for an estimated $380,254,007
PICTET ASSET MANAGEMENT HOLDING SA removed 929,837 shares (-61.6%) from their portfolio in Q2 2026, for an estimated $207,242,070
GATES FOUNDATION TRUST removed 921,600 shares (-3.3%) from their portfolio in Q2 2026, for an estimated $205,406,208
BARCLAYS PLC removed 839,055 shares (-30.8%) from their portfolio in Q2 2026, for an estimated $187,008,578
DIAMANT ASSET MANAGEMENT, INC. removed 767,165 shares (-99.5%) from their portfolio in Q2 2026, for an estimated $170,985,735

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$WM Government Contracts

We have seen $5,946 of award payments to $WM over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

TRASH AND RECYCLE COLLECTION FOR COLUMBIA SITE: $5,946

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$WM Price Targets

Multiple analysts have issued price targets for $WM recently. We have seen 2 analysts offer price targets for $WM in the last 6 months, with a median target of $253.5.

Here are some recent targets:

Noah Kaye from Oppenheimer set a target price of $263.0 on 07/08/2026
Kevin Chiang from CIBC set a target price of $244.0 on 07/07/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.