Kingdon Capital Management L.L.C. Has $11.58 Million Stake in Waste Management, Inc. $WM

Key Points

• Kingdon Capital Management L.L.C. increased its stake in Waste Management, Inc. by 11.1%, now holding 50,000 shares valued at approximately $11.58 million.
• Waste Management reported a year-over-year revenue increase of 19% for the last quarter, reaching $6.43 billion, and had an earnings per share (EPS) of $1.92, beating estimates.
• The company announced a quarterly dividend of $0.825 per share, translating to an annualized dividend of $3.30 and a yield of 1.5%.

Kingdon Capital Management L.L.C. grew its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 11.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 50,000 shares of the business services provider's stock after acquiring an additional 5,000 shares during the period. Waste Management comprises about 1.2% of Kingdon Capital Management L.L.C.'s portfolio, making the stock its 15th largest holding. Kingdon Capital Management L.L.C.'s holdings in Waste Management were worth $11,576,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. lifted its holdings in shares of Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 70,907 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 purchasing an additional 177,398 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 purchasing an additional 36,836 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 29,715 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Stock Up 0.9%

Waste Management stock traded up $2.11 during mid-day trading on Monday, hitting $226.69. 1,527,535 shares of the company's stock were exchanged, compared to its average volume of 1,640,870. 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 has a market cap of $91.32 billion, a P/E ratio of 33.63, a P/E/G ratio of 2.78 and a beta of 0.64. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The stock has a 50 day moving average of $228.32 and a two-hundred day moving average of $229.80.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

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 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 of this dividend is Friday, September 12th. Waste Management's dividend payout ratio is presently 48.96%.

Analysts Set New Price Targets

WM has been the subject of a number of research analyst reports. National Bank Financial upgraded Waste Management to a "hold" rating in a report on Monday, May 26th. CIBC increased their price objective on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Oppenheimer increased their price objective on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Finally, Seaport Res Ptn upgraded Waste Management to a "hold" rating in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

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.