Erste Asset Management GmbH Purchases 30,908 Shares of Waste Management, Inc. $WM

Key Points

• Erste Asset Management GmbH increased its stake in Waste Management by 38.2%, acquiring an additional 30,908 shares, bringing their total holdings to 111,876 shares worth approximately $25.5 million.
• Waste Management reported $1.92 EPS for the latest quarter, exceeding analysts' expectations of $1.89, with revenue increasing by 19.0% year-over-year.
• Several hedge funds have also adjusted their positions in Waste Management, with institutional investors now owning 80.40% of the company's stock.

Erste Asset Management GmbH raised its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 38.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,876 shares of the business services provider's stock after buying an additional 30,908 shares during the quarter. Erste Asset Management GmbH's holdings in Waste Management were worth $25,499,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in Waste Management by 5.8% in the fourth quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after buying an additional 224,279 shares during the period. Northern Trust Corp lifted its stake in Waste Management by 1.8% in the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after buying an additional 70,907 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Waste Management by 7.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock valued at $531,456,000 after buying an additional 177,398 shares during the period. Dimensional Fund Advisors LP lifted its stake in Waste Management by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after buying an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Waste Management by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after buying an additional 29,715 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WM shares. Oppenheimer upped their target price on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. National Bank Financial raised Waste Management to a "hold" rating in a research report on Monday, May 26th. Seaport Res Ptn raised Waste Management to a "hold" rating in a research report on Tuesday, May 6th. BMO Capital Markets upped their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Finally, Raymond James Financial upped their target price on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $254.35.

Waste Management Stock Down 1.2%

NYSE WM traded down $2.6670 on Friday, reaching $226.9430. The company had a trading volume of 1,331,593 shares, compared to its average volume of 1,859,571. The stock has a market capitalization of $91.42 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.82 and a beta of 0.64. The company's fifty day moving average is $229.28 and its 200 day moving average is $229.77. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week 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 quarterly 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. The business had revenue of $6.43 billion during 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%.Waste Management's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal 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. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Insiders Place Their Bets

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the transaction, the chief financial officer owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. This trade represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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.