DnB Asset Management AS Has $39.09 Million Position in Waste Management, Inc. $WM

Key Points

• DnB Asset Management AS reduced its stake in Waste Management, Inc. by 1.7%, selling 2,936 shares, leaving them with 168,840 shares valued at approximately $39.09 million.
• Several hedge funds increased their positions in Waste Management, with Westend Capital Management raising its holdings by 126.9% during the first quarter.
• Waste Management reported a quarterly earnings per share of $1.92, exceeding analyst estimates, with a year-over-year revenue increase of 19% to $6.43 billion.

DnB Asset Management AS lessened its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,840 shares of the business services provider's stock after selling 2,936 shares during the quarter. DnB Asset Management AS's holdings in Waste Management were worth $39,088,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WM. GAMMA Investing LLC lifted its position in shares of Waste Management by 26,095.2% in the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock worth $442,038,000 after purchasing an additional 1,902,081 shares in the last quarter. Nuveen LLC bought a new stake in shares of Waste Management in the first quarter worth $333,089,000. Ameriprise Financial Inc. raised its position in 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 acquiring an additional 1,239,996 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in Waste Management during the fourth quarter worth $205,506,000. Finally, T. Rowe Price Investment Management Inc. raised its position in 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 acquiring an additional 657,194 shares in the last quarter. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

NYSE:WM traded down $4.87 during mid-day trading on Friday, reaching $220.08. 2,110,690 shares of the company's stock were exchanged, compared to its average volume of 1,680,656. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The firm has a market capitalization of $88.65 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. The business's fifty day simple moving average is $227.85 and its two-hundred day simple moving average is $229.66. 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 (NYSE:WM - Get Free Report) last released 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 business 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 for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The company 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 dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's dividend payout ratio is presently 48.96%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WM. Scotiabank upped their price target on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. CIBC increased their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Raymond James Financial increased their price objective on shares of Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Melius initiated coverage on shares of Waste Management in a research report on Monday, June 9th. They issued a "buy" rating on the stock. 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 company's stock. Based on data from MarketBeat, the company presently has a consensus 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.