BROOKFIELD Corp ON Acquires 4,043 Shares of Waste Management, Inc. $WM

Key Points

• BROOKFIELD Corp ON increased its stake in Waste Management, Inc. by 25.1%, acquiring an additional 4,043 shares in the first quarter, raising its holdings to a total value of $4,661,000.
• The company reported a quarterly EPS of $1.92, surpassing expectations and showing a 19.0% year-over-year revenue increase to $6.43 billion.
• Waste Management declared a quarterly dividend of $0.825 per share, to be paid on September 26th, which represents a 1.5% dividend yield.

BROOKFIELD Corp ON lifted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 25.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,135 shares of the business services provider's stock after acquiring an additional 4,043 shares during the quarter. BROOKFIELD Corp ON's holdings in Waste Management were worth $4,661,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WM. Westend Capital Management LLC grew its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares during the last quarter. West Branch Capital LLC grew its holdings in shares of Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Saudi Central Bank bought a new position in shares of Waste Management in the first quarter worth approximately $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management in the first quarter worth approximately $38,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Waste Management in the first quarter worth approximately $45,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

NYSE:WM opened at $220.54 on Friday. The stock has a market cap of $88.84 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The firm's fifty day simple moving average is $227.22 and its 200 day simple moving average is $229.38. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month 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.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter last year, the business posted $1.82 EPS. The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WM. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. Melius began coverage on shares of Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. BMO Capital Markets raised their target price on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Scotiabank raised their target price on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, CIBC upped their target price on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $254.35.

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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