AQR Capital Management LLC Has $97.85 Million Stake in Waste Management, Inc. $WM

Key Points

• AQR Capital Management LLC decreased its stake in Waste Management, Inc. by 1.7% during the first quarter, holding a total of approximately $97.85 million worth of shares.
• Waste Management reported record earnings of $1.92 per share in its recent quarterly results, surpassing the consensus estimate of $1.89 and achieving a 19% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.825, which represents an annualized dividend yield of 1.5% and a payout ratio of 48.96%.

AQR Capital Management LLC trimmed its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 423,071 shares of the business services provider's stock after selling 7,296 shares during the period. AQR Capital Management LLC owned about 0.11% of Waste Management worth $97,852,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Waste Management by 26,095.2% during the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock worth $442,038,000 after buying an additional 1,902,081 shares during the period. Nuveen LLC acquired a new position in shares of Waste Management during the first quarter worth about $333,089,000. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 30.4% during the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after buying an additional 1,239,996 shares during the period. Leigh Baldwin & CO. LLC acquired a new position in shares of Waste Management during the fourth quarter worth about $205,506,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of Waste Management by 16,999.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider's stock worth $153,043,000 after buying an additional 657,194 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

NYSE:WM opened at $224.94 on Friday. 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 stock's 50 day moving average price is $228.01 and its two-hundred day moving average price is $229.71. The firm has a market capitalization of $90.61 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 2.75 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on WM shares. Raymond James Financial upped their price objective on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a research report on Monday, June 9th. National Bank Financial raised Waste Management to a "hold" rating in a research report on Monday, May 26th. Oppenheimer increased their price target on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, Melius assumed coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.

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