Mirae Asset Global Investments Co. Ltd. Acquires 2,583 Shares of Waste Management, Inc. $WM

Key Points

• Mirae Asset Global Investments increased its stake in Waste Management, Inc. by 4.6% in Q2, holding a total of 58,152 shares valued at approximately $13.3 million.
• Waste Management reported a 19% increase in revenue year-over-year, reaching $6.43 billion, and earnings per share of $1.92, exceeding estimates.
• The company announced a quarterly dividend of $0.825 per share, equating to a 1.5% annual yield and a payout ratio of 48.96%.

Mirae Asset Global Investments Co. Ltd. boosted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,152 shares of the business services provider's stock after acquiring an additional 2,583 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Waste Management were worth $13,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westend Capital Management LLC lifted its holdings in shares of 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 lifted its holdings in shares of 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 shares of Waste Management in the first quarter valued at approximately $37,000. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management during the first quarter valued at approximately $38,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Waste Management during the first quarter valued at approximately $45,000. Institutional investors own 80.40% of the company's stock.

Waste Management Trading Up 1.3%

Shares of WM stock opened at $219.77 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The business has a 50-day moving average price of $224.29 and a two-hundred day moving average price of $228.26. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The firm has a market cap of $88.53 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The company's revenue was up 19.0% compared to the same quarter last year. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WM. Melius Research raised Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a research report on Monday, June 9th. BMO Capital Markets raised their target price on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Oppenheimer raised their target price on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Raymond James Financial raised their target price on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Scotiabank raised their target price on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $255.17.

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.

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