Waste Management, Inc. $WM Shares Bought by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. increased its holdings in Waste Management, Inc. by 210.0% in Q1, acquiring an additional 483,132 shares for a total of 713,162 shares.
• Waste Management reported $1.92 earnings per share for the last quarter, exceeding analysts' expectations of $1.89, with a 19.0% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.825 per share, highlighting a yield of 1.5% and a payout ratio of 48.96%.

Alyeska Investment Group L.P. lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 210.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 713,162 shares of the business services provider's stock after purchasing an additional 483,132 shares during the period. Alyeska Investment Group L.P. owned about 0.18% of Waste Management worth $165,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares during the period. Golden State Wealth Management LLC grew its stake in Waste Management by 41.7% in the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after purchasing an additional 232 shares in the last quarter. Calamos Advisors LLC increased its holdings in Waste Management by 2.8% during the 1st quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after purchasing an additional 7,751 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Waste Management by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after purchasing an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Waste Management by 13.1% during the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock worth $1,909,000 after buying an additional 958 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 2.2%

Shares of WM traded down $4.87 during midday trading on Friday, hitting $220.08. 2,110,690 shares of the company's stock traded hands, compared to its average volume of 1,680,656. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a market capitalization of $88.65 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.64. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The firm's fifty day moving average is $227.85 and its 200-day moving average is $229.65.

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

Waste Management Announces Dividend

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

Analysts Set New Price Targets

WM has been the subject of several recent research reports. Raymond James Financial lifted their price objective on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. BMO Capital Markets boosted their price target on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. Scotiabank increased their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Oppenheimer boosted their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Melius began coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.