Meiji Yasuda Life Insurance Co Sells 19,615 Shares of Waste Management, Inc. $WM

Key Points

• Meiji Yasuda Life Insurance Co reduced its holdings in Waste Management, Inc. by 30.5%, selling 19,615 shares during the first quarter, leaving it with shares worth approximately $10.34 million.
• Waste Management reported a 19% increase in quarterly revenue, totaling $6.43 billion, and exceeded EPS estimates by $0.03.
• The company announced a quarterly dividend of $0.825 per share, with a payout ratio of 48.96%, to be distributed on September 26th.

Meiji Yasuda Life Insurance Co reduced its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 30.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 44,637 shares of the business services provider's stock after selling 19,615 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Waste Management were worth $10,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WM. Brighton Jones LLC boosted its holdings in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after purchasing an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Waste Management by 14.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock worth $25,193,000 after purchasing an additional 15,974 shares during the period. Ethic Inc. boosted its holdings in shares of Waste Management by 21.7% in the 4th quarter. Ethic Inc. now owns 22,174 shares of the business services provider's stock worth $4,475,000 after purchasing an additional 3,954 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Waste Management in the 4th quarter worth approximately $3,650,000. Finally, Gotham Asset Management LLC boosted its holdings in shares of Waste Management by 72.6% in the 4th quarter. Gotham Asset Management LLC now owns 4,481 shares of the business services provider's stock worth $904,000 after purchasing an additional 1,885 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Down 2.2%

NYSE:WM opened at $220.08 on Monday. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. 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 firm has a market cap of $88.65 billion, a P/E ratio of 32.65, a P/E/G ratio of 2.70 and a beta of 0.64. The firm has a 50-day simple moving average of $227.85 and a 200-day simple moving average of $229.66.

Waste Management (NYSE:WM - Get Free Report) last posted 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 analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company's quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal 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 issued 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 is currently 48.96%.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of analyst reports. CIBC upped their target price on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Oppenheimer upped their target price on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Raymond James Financial upped their target price on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Melius initiated coverage on Waste Management in a research note on Monday, June 9th. They set a "buy" rating on the stock. Finally, Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management 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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.