E. Ohman J or Asset Management AB Has $3.78 Million Holdings in Waste Management, Inc. $WM

Key Points

• E. Ohman J or Asset Management AB reduced its holdings in Waste Management, Inc. by 8.1%, now owning 16,520 shares valued at $3.78 million.
• Waste Management announced a quarterly dividend of $0.825 per share, representing a 1.5% yield, with the ex-dividend date set for September 12th.
• Multiple analysts have upgraded Waste Management's stock ratings, with target prices ranging from $254.35 to $277.00, indicating strong market confidence.

E. Ohman J or Asset Management AB decreased its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,520 shares of the business services provider's stock after selling 1,447 shares during the period. E. Ohman J or Asset Management AB's holdings in Waste Management were worth $3,780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in 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 purchasing an additional 1,902,081 shares during the period. Nuveen LLC acquired a new stake in shares of Waste Management during the 1st quarter worth about $333,089,000. Ameriprise Financial Inc. boosted its holdings in shares of Waste Management by 30.4% during the 1st 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 buying an additional 709,557 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in Waste Management by 738.2% in the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock valued at $175,766,000 after acquiring an additional 668,637 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Down 1.0%

Shares of NYSE WM opened at $218.22 on Monday. The company has a market cap of $87.91 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.68 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock has a 50-day moving average price of $227.06 and a two-hundred day moving average price of $229.30.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly 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. 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%. The firm's revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on WM. JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and upped their target price for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Raymond James Financial increased 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. Oppenheimer boosted their target price on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Scotiabank upped their price target 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. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $254.35.

About Waste Management

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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.