Nissay Asset Management Corp Japan ADV Grows Stock Holdings in Waste Management, Inc. $WM

Key Points

• Nissay Asset Management Corp Japan ADV has increased its stake in Waste Management, Inc. by 2.2%, acquiring an additional 1,723 shares during the first quarter, bringing its total ownership to 78,965 shares valued at approximately $18.28 million.
• Several institutional investors, including Ameriprise Financial and Northern Trust Corp, have significantly raised their stakes in Waste Management, indicating robust investor interest with institutional ownership reaching 80.40% of the company's stock.
• Waste Management announced a quarterly dividend of $0.825, payable on September 26, which represents an annualized dividend of $3.30 and a yield of 1.5%.

Nissay Asset Management Corp Japan ADV increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,965 shares of the business services provider's stock after buying an additional 1,723 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Waste Management were worth $18,281,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ascent Group LLC lifted its position in shares of Waste Management by 0.6% in the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock worth $1,520,000 after purchasing an additional 44 shares during the period. Insight Wealth Strategies LLC lifted its position in Waste Management by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after acquiring an additional 44 shares during the period. Stonebridge Financial Group LLC lifted its position in Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after acquiring an additional 45 shares during the period. Formidable Asset Management LLC lifted its position in Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after acquiring an additional 45 shares during the period. Finally, KRS Capital Management LLC lifted its position in Waste Management by 3.1% during the 1st quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider's stock valued at $358,000 after acquiring an additional 46 shares during the period. Institutional investors own 80.40% of the company's stock.

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Scotiabank raised their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Oppenheimer raised their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, BMO Capital Markets raised their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Price Performance

Waste Management stock traded down $1.49 during mid-day trading on Wednesday, reaching $217.67. 1,183,257 shares of the company's stock traded hands, compared to its average volume of 1,715,255. The company has a market cap of $87.68 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.69 and a beta of 0.64. The stock has a 50 day moving average of $227.46 and a two-hundred day moving average of $229.53. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating 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 business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the previous year, the business posted $1.82 earnings per share. The business'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 forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid 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 of this dividend is Friday, September 12th. Waste Management's payout ratio is currently 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.