LGT Fund Management Co Ltd. Has $6.09 Million Stake in Waste Management, Inc. $WM

Key Points

• LGT Fund Management Co Ltd. increased its stake in Waste Management, Inc. by 30.1%, owning 26,607 shares valued at approximately $6.09 million.
• Analysts have set varying price targets for Waste Management, with a consensus rating of "Moderate Buy" and an average target price of $255.17.
• The company recently reported a Q2 earnings per share of $1.92, beating estimates, and achieving a revenue of $6.43 billion, reflecting a 19% year-over-year increase.

LGT Fund Management Co Ltd. raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 30.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,607 shares of the business services provider's stock after purchasing an additional 6,154 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Waste Management were worth $6,088,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Westend Capital Management LLC grew its stake in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after purchasing an additional 66 shares in the last quarter. West Branch Capital LLC grew its stake in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares in the last quarter. Saudi Central Bank bought a new position in Waste Management in the first quarter valued at approximately $37,000. GKV Capital Management Co. Inc. bought a new position in Waste Management in the first quarter valued at 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. 80.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on WM shares. Raymond James Financial lifted their target price on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Erste Group Bank downgraded Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. BMO Capital Markets lifted their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 30th. Stifel Nicolaus started coverage on Waste Management in a research note on Tuesday. They set a "buy" rating and a $252.00 target price for the company. Finally, Scotiabank lifted their target price on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $255.17.

Waste Management Stock Performance

NYSE:WM opened at $219.77 on Friday. The stock has a market cap of $88.53 billion, a P/E ratio of 32.61, a PEG ratio of 2.65 and a beta of 0.64. The stock has a 50 day simple moving average of $224.29 and a 200 day simple moving average of $228.25. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58.

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

Waste Management Dividend Announcement

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

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.

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