Federation des caisses Desjardins du Quebec Buys 10,883 Shares of Waste Management, Inc. $WM

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in Waste Management, Inc. by 13.3% after acquiring an additional 10,883 shares, bringing its total ownership to 92,482 shares worth approximately $21.4 million.
• Waste Management reported a quarterly earnings per share (EPS) of $1.92, beating analyst estimates, with a 19.0% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.825 per share, which will be paid to shareholders on September 26th, reflecting a dividend yield of 1.5%.

Federation des caisses Desjardins du Quebec increased its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 13.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,482 shares of the business services provider's stock after purchasing an additional 10,883 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Waste Management were worth $21,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WM. Ameriprise Financial Inc. increased its position in Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock valued at $1,233,240,000 after acquiring an additional 1,239,996 shares during the period. Northern Trust Corp increased its position in Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after acquiring an additional 70,907 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Waste Management by 7.2% in the 4th 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 acquiring an additional 177,398 shares during the period. Dimensional Fund Advisors LP increased its position in Waste Management by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after acquiring an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Waste Management by 1.4% in the 1st 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 purchasing an additional 29,715 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 2.2%

Shares of WM stock traded down $4.87 on Friday, hitting $220.08. The stock had a trading volume of 2,110,690 shares, compared to its average volume of 1,680,656. The business has a 50 day moving average of $227.85 and a 200 day moving average of $229.65. The stock has a market cap of $88.65 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. 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 announced its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. The firm's revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WM shares. BMO Capital Markets upped their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. UBS Group upped their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Melius started coverage on shares of Waste Management in a research note on Monday, June 9th. They set a "buy" rating on the stock. Scotiabank increased their target price on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $229.00 target price 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 eight have given a Hold rating to the stock. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price 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.