8,301 Shares in Waste Management, Inc. $WM Purchased by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC acquired 8,301 shares of Waste Management, Inc., valued at approximately $1.89 million, as part of its new position in the company.
• Waste Management recently reported quarterly earnings of $1.92 EPS, exceeding analysts' estimates by $0.03, and generated revenues of $6.43 billion, a 19% increase year-over-year.
• The company declared a quarterly dividend of $0.825, with an annual yield of 1.5%, aimed to be paid out on September 26th, reflecting a payout ratio of 48.96%.

Eventide Asset Management LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,301 shares of the business services provider's stock, valued at approximately $1,892,000.

Several other large investors have also recently made changes to their positions in the business. Westend Capital Management LLC raised its stake in Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares during the last quarter. West Branch Capital LLC increased its holdings in shares of Waste Management by 69.0% during the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Saudi Central Bank purchased a new position in shares of Waste Management in the 1st quarter worth about $37,000. GKV Capital Management Co. Inc. bought a new position in Waste Management in the 1st quarter worth about $38,000. Finally, Adalta Capital Management LLC bought a new stake in Waste Management during the 4th quarter valued at about $40,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 0.2%

Waste Management stock opened at $224.94 on Friday. The business has a 50-day simple moving average of $228.01 and a two-hundred day simple moving average of $229.71. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company has a market cap of $90.61 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.75 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the firm posted $1.82 earnings per share. The firm's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.825 dividend. The ex-dividend date is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management's dividend payout ratio is presently 48.96%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WM. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Scotiabank upped their price objective on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Oppenheimer lifted their target price on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 price target on shares of Waste Management in a report on Thursday, June 26th. Finally, Raymond James Financial lifted their price objective on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $254.35.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.