Waste Management, Inc. $WM Shares Sold by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. reduced its holdings in Waste Management, Inc. by 97%, selling 403,759 shares and now owning only 12,544 shares worth approximately $2.9 million.
• Waste Management reported earnings per share of $1.92, beating estimates by 3 cents, and its revenue rose by 19% year-over-year to $6.43 billion.
• The company announced a quarterly dividend of $0.825, which will be paid on September 26th, representing an annualized yield of 1.5%.

Nomura Holdings Inc. trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 97.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,544 shares of the business services provider's stock after selling 403,759 shares during the period. Nomura Holdings Inc.'s holdings in Waste Management were worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in Waste Management by 30.4% during 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 purchasing an additional 1,239,996 shares in the last quarter. Northern Trust Corp grew its position in Waste Management by 1.8% during the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock worth $941,709,000 after purchasing an additional 70,907 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Waste Management by 7.2% in the 4th 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 worth $531,456,000 after acquiring an additional 177,398 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Waste Management by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock worth $570,108,000 after acquiring an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. increased 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 purchasing an additional 29,715 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 2.2%

NYSE:WM traded down $4.87 during mid-day trading on Friday, reaching $220.08. The company's stock had a trading volume of 2,110,690 shares, compared to its average volume of 1,720,245. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The company's fifty day simple moving average is $228.01 and its two-hundred day simple moving average is $229.71. The stock has a market cap of $88.65 billion, a P/E ratio of 32.65, a P/E/G ratio of 2.75 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. Waste Management's revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WM shares. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a report on Monday, June 9th. BMO Capital Markets lifted their price objective on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Oppenheimer raised their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Melius assumed coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. Finally, 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 note on Tuesday, July 22nd. Two investment 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.com, Waste Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Company 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.