AlphaQuest LLC Has $1.90 Million Stock Holdings in Waste Management, Inc. $WM

Key Points

• AlphaQuest LLC reduced its stake in Waste Management, Inc. by 19.7%, holding shares valued at approximately $1.90 million after selling 2,032 shares in the second quarter.
• Waste Management reported $1.92 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $6.43 billion, marking a 19% increase from the previous year.
• The company declared a quarterly dividend of $0.825 per share, giving an annualized rate of $3.30 and a yield of 1.5%.

AlphaQuest LLC trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 19.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,304 shares of the business services provider's stock after selling 2,032 shares during the period. AlphaQuest LLC's holdings in Waste Management were worth $1,900,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares during the period. Northern Trust Corp raised its holdings in shares of Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after purchasing an additional 70,907 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Waste Management by 26.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock valued at $774,000,000 after purchasing an additional 709,557 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Waste Management by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after purchasing an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Waste Management by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after purchasing an additional 29,715 shares during the period. 80.40% of the stock is owned by institutional investors.

Waste Management Price Performance

Shares of NYSE:WM opened at $215.81 on Friday. The firm has a market cap of $86.94 billion, a PE ratio of 32.02, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The firm's fifty day moving average is $220.13 and its 200-day moving average is $227.09. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58.

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

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.825 per share. The ex-dividend date of this dividend was 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 48.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WM shares. Erste Group Bank downgraded shares of Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday, September 11th. Barclays decreased their price objective on shares of Waste Management from $272.00 to $271.00 and set an "overweight" rating on the stock in a research note on Thursday, October 9th. Stifel Nicolaus assumed coverage on shares of Waste Management in a research note on Tuesday, September 30th. They issued a "buy" rating and a $252.00 price objective on the stock. CIBC lifted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, BMO Capital Markets lifted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

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.

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