Ilmarinen Mutual Pension Insurance Co Has $15.05 Million Holdings in Waste Management, Inc. $WM

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in Waste Management, Inc. by 62.5%, holding a total of 65,000 shares valued at approximately $15.05 million as of its last SEC filing.
• Waste Management reported $1.92 EPS for the last quarter, exceeding analyst estimates of $1.89, with revenue reaching $6.43 billion, a 19% year-over-year increase.
• The company declared a quarterly dividend of $0.825 to be paid on September 26th, 2023, resulting in an annualized dividend of $3.30 and a yield of 1.5%.

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 62.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,000 shares of the business services provider's stock after buying an additional 25,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Waste Management were worth $15,048,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WM. Ameriprise Financial Inc. raised its holdings in shares of 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 worth $1,233,240,000 after purchasing an additional 1,239,996 shares during the period. Northern Trust Corp grew its position 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 worth $941,709,000 after acquiring an additional 70,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Waste Management by 26.9% in the first 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 worth $774,000,000 after acquiring an additional 709,557 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 worth $531,456,000 after acquiring an additional 177,398 shares in the last quarter. Finally, 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 worth $570,108,000 after purchasing an additional 36,836 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Up 0.0%

Shares of NYSE WM opened at $219.15 on Wednesday. The stock has a market capitalization of $88.28 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock's fifty day simple moving average is $227.46 and its two-hundred day simple moving average is $229.53.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $1.82 EPS. The firm's quarterly revenue 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 fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.825 dividend. 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 is 48.96%.

Wall Street Analyst Weigh In

WM has been the subject of several recent analyst reports. National Bank Financial raised shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Melius started coverage on shares of Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. UBS Group increased their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. 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. Finally, JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $225.00 to $277.00 in a report on Friday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.

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