Lazard Asset Management LLC Boosts Stock Position in Waste Management, Inc. $WM

Key Points

• Lazard Asset Management increased its Waste Management stake by 0.6% to 1.39 million shares, while institutional investors collectively owned 80.4% of the company’s stock.
• Waste Management reported quarterly EPS of $1.81, exceeding estimates of $1.75, while revenue rose 3.5% year over year to $6.23 billion. The company also paid a quarterly dividend of $0.945, equivalent to a 1.6% annual yield.
• Analysts maintain a “Moderate Buy” consensus, with 15 Buy and seven Hold ratings and an average price target of $256.74, above the reported share price of $238.86.

Lazard Asset Management LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,386,375 shares of the business services provider's stock after acquiring an additional 8,043 shares during the period. Lazard Asset Management LLC owned 0.35% of Waste Management worth $318,575,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WM. Norges Bank bought a new stake in Waste Management during the fourth quarter valued at about $1,022,916,000. Corient Private Wealth LLC raised its stake in Waste Management by 279.0% during the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock valued at $236,387,000 after purchasing an additional 792,037 shares during the period. Diamant Asset Management Inc. lifted its holdings in Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock worth $17,716,000 after purchasing an additional 767,615 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in Waste Management by 3,209.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock valued at $150,466,000 after buying an additional 660,776 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Waste Management by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock worth $8,566,508,000 after buying an additional 553,605 shares in the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Trading Up 0.0%

WM opened at $238.86 on Monday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The stock has a 50-day moving average of $224.17 and a 200 day moving average of $227.13. The firm has a market cap of $95.92 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.90 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to analysts' expectations of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 EPS. As a group, research analysts forecast that Waste Management, Inc. will post 8.16 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management's dividend payout ratio is 54.70%.

Key Headlines Impacting Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Analysts expect WM to report higher revenue and earnings, supported by stronger collection and disposal pricing plus a sharp increase in renewable energy sales. WM Is Set to Report Q2 Earnings: Here's What Investors Should Know
• Positive Sentiment: WM was highlighted as a stock that can benefit from inflation because its contracts allow it to pass rising costs through to customers, which supports margins and earnings resilience. 2 Stocks Built to Thrive If Inflation Refuses to Fade
• Positive Sentiment: The company was also cited as one of several waste firms using AI to improve efficiency and expand margins, reinforcing the long-term growth narrative. 3 Waste Stocks Turning AI Investments Into Growth
• Neutral Sentiment: Several articles published ahead of earnings focused on Wall Street estimates and key operating metrics, suggesting investors are mainly waiting for the actual Q2 report before making a bigger move. Curious about Waste Management (WM) Q2 Performance? Explore Wall Street Estimates for Key Metrics
• Neutral Sentiment: One broad S&P 500 article mentioned WM among companies worth investigating, but it did not provide a specific new catalyst for the stock. 1 S&P 500 Stock Worth Investigating and 2 Facing Challenges

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Canadian Imperial Bank of Commerce upgraded shares of Waste Management from a "hold" rating to an "outperformer" rating and set a $244.00 price target on the stock in a report on Tuesday, July 7th. TD Cowen increased their price objective on shares of Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Barclays lifted their target price on Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on Waste Management from $265.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Finally, Scotiabank lifted their price objective on Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and an average target price of $256.74.

Waste Management Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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