IFM Investors Pty Ltd Acquires 5,525 Shares of Waste Management, Inc. $WM

Key Points

• IFM Investors Pty Ltd increased its holdings in Waste Management, Inc. by 8.0%, purchasing an additional 5,525 shares in the second quarter, bringing its total ownership to 74,443 shares valued at approximately $17 million.
• A number of analysts have upgraded Waste Management's stock ratings, with Melius Research assigning a "strong-buy" rating and a price target of $263, while JPMorgan Chase raised their target from $225 to $277.
• Waste Management recently reported a quarterly earnings per share of $1.92, exceeding expectations and marking a year-over-year revenue increase of 19% to $6.43 billion.

IFM Investors Pty Ltd grew its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,443 shares of the business services provider's stock after purchasing an additional 5,525 shares during the quarter. IFM Investors Pty Ltd's holdings in Waste Management were worth $17,034,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westend Capital Management LLC raised its stake in shares of 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 in the last quarter. West Branch Capital LLC raised its stake in shares of Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after acquiring an additional 49 shares in the last quarter. Saudi Central Bank bought a new position in shares of Waste Management during the 1st quarter worth approximately $37,000. GKV Capital Management Co. Inc. bought a new position in shares of Waste Management during the 1st quarter worth approximately $38,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Waste Management during the 1st quarter worth approximately $45,000. Institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on WM shares. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a research note on Monday, June 9th. JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $225.00 to $277.00 in a report on Friday, May 23rd. Oppenheimer increased their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. National Bank Financial raised shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Finally, Citigroup lowered their price target on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.18.

Waste Management Price Performance

Shares of NYSE WM opened at $215.88 on Friday. The firm has a 50-day simple moving average of $226.23 and a 200-day simple moving average of $228.86. The stock has a market capitalization of $86.96 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64. 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, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last issued 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. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts predict 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. Investors of record on Friday, September 12th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

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.

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