Lynch & Associates IN Acquires New Position in Waste Management, Inc. $WM

Key Points

• Lynch & Associates IN has acquired a new stake in Waste Management, purchasing 3,080 shares valued at approximately $705,000 during the 2nd quarter.
• Several institutional investors, including GAMMA Investing LLC and Ameriprise Financial Inc., have significantly increased their stakes in Waste Management, indicating strong interest in the stock.
• Waste Management recently reported a quarterly EPS of $1.92, exceeding analysts' expectations, with revenue growth of 19.0% year-over-year.

Lynch & Associates IN bought a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,080 shares of the business services provider's stock, valued at approximately $705,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WM. GAMMA Investing LLC lifted its stake in Waste Management by 26,095.2% during 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 acquiring an additional 1,902,081 shares during the period. Nuveen LLC bought a new position in Waste Management during the 1st quarter valued at about $333,089,000. Ameriprise Financial Inc. lifted its stake in Waste Management by 30.4% during 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 acquiring an additional 1,239,996 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Waste Management by 26.9% during 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 acquiring an additional 709,557 shares during the period. Finally, Voya Investment Management LLC lifted its stake in Waste Management by 738.2% during the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider's stock valued at $175,766,000 after acquiring an additional 668,637 shares during the period. Institutional investors own 80.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on WM. William Blair restated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Citigroup lowered their price objective on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research note on Tuesday, September 16th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Melius started coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Finally, UBS Group increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $255.17.

Waste Management Price Performance

NYSE WM opened at $218.03 on Wednesday. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock has a market cap of $87.83 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 2.65 and a beta of 0.64. The company's 50 day moving average is $225.64 and its two-hundred day moving average is $228.62. 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 (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter last year, the business earned $1.82 EPS. The firm's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid 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 (DPR) is presently 48.96%.

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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