Intech Investment Management LLC Reduces Position in Waste Management, Inc. $WM

Key Points

• Intech Investment Management LLC has reduced its stake in Waste Management, Inc. by 58.3%, owning 21,985 shares valued at $5.09 million after selling 30,780 shares in the first quarter.
• Other institutional investors, like GAMMA Investing LLC and T. Rowe Price Investment Management Inc., significantly increased their positions in Waste Management, with GAMMA adding over 1.9 million shares during the same period.
• Waste Management reported a 19% year-over-year increase in quarterly revenue, achieving $6.43 billion, along with an earnings per share (EPS) of $1.92, surpassing analysts’ expectations.

Intech Investment Management LLC decreased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 58.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,985 shares of the business services provider's stock after selling 30,780 shares during the period. Intech Investment Management LLC's holdings in Waste Management were worth $5,090,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WM. GAMMA Investing LLC grew its stake in shares of Waste Management by 26,095.2% in the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock valued at $442,038,000 after buying an additional 1,902,081 shares during the period. Nuveen LLC purchased a new stake in shares of Waste Management in the 1st quarter valued at approximately $333,089,000. Ameriprise Financial Inc. grew its stake 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 valued at $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 shares of 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 period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Waste Management by 16,999.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider's stock valued at $153,043,000 after buying an additional 657,194 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Waste Management stock opened at $218.22 on Friday. The firm has a market cap of $87.91 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64. 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. The company's 50 day moving average is $227.06 and its two-hundred day moving average is $229.30.

Waste Management (NYSE:WM - Get Free Report) last released 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. 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 quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.825 per share. The ex-dividend date is Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management's dividend payout ratio is 48.96%.

Analysts Set New Price Targets

WM has been the topic of several recent analyst reports. Erste Group Bank lowered shares of Waste Management from a "buy" rating to a "hold" rating in a report on Thursday. William Blair restated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. Melius initiated coverage on shares of Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. Finally, Scotiabank upped their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus 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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