Waste Management, Inc. $WM Holdings Cut by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management has reduced its holdings in Waste Management, Inc. by 18.8%, selling 6,049 shares and now owning 26,155 shares worth $6,055,000.
• Waste Management reported $1.92 earnings per share for the last quarter, beating estimates, along with a revenue increase of 19.0% from last year.
• The company announced a quarterly dividend of $0.825 per share, translating to an annual yield of 1.5%, with a dividend payout ratio of 48.96%.

Meiji Yasuda Asset Management Co Ltd. lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 18.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,155 shares of the business services provider's stock after selling 6,049 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Waste Management were worth $6,055,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ameriprise Financial Inc. boosted 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 acquiring an additional 1,239,996 shares in the last quarter. Northern Trust Corp boosted 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 acquiring an additional 70,907 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 acquiring an additional 177,398 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 acquiring an additional 36,836 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 29,715 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Down 1.0%

Shares of NYSE:WM traded down $2.28 during mid-day trading on Friday, hitting $218.22. The stock had a trading volume of 1,087,218 shares, compared to its average volume of 1,712,385. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The company has a market cap of $87.91 billion, a PE ratio of 32.38, a P/E/G ratio of 2.67 and a beta of 0.64. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company's 50 day moving average is $227.22 and its 200-day moving average is $229.38.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion during 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 firm's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business 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 $0.825 dividend. 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 presently 48.96%.

Analyst Ratings Changes

Several research analysts have recently issued reports on WM shares. Erste Group Bank cut shares of Waste Management from a "buy" rating to a "hold" rating in a report on Thursday. Oppenheimer raised their target price on shares of 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 restated a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. Scotiabank raised their target price 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. Finally, National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average 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.