Nordea Investment Management AB Has $870.25 Million Stake in Waste Management, Inc. $WM

Key Points

• Nordea Investment Management AB has reduced its stake in Waste Management, Inc. by 10.7% in the second quarter, now holding approximately $870.25 million worth of shares.
• Waste Management reported a 19% increase in quarterly revenue year-over-year, with earnings per share of $1.92, surpassing analyst expectations.
• The company has recently announced a quarterly dividend of $0.825 per share, yielding 1.5%, consistent with a dividend payout ratio of 48.96%.

Nordea Investment Management AB reduced its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,829,480 shares of the business services provider's stock after selling 461,178 shares during the period. Waste Management comprises about 0.8% of Nordea Investment Management AB's investment portfolio, making the stock its 22nd largest holding. Nordea Investment Management AB owned 0.95% of Waste Management worth $870,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stableford Capital II LLC boosted its position in shares of Waste Management by 29.6% during the second quarter. Stableford Capital II LLC now owns 1,314 shares of the business services provider's stock worth $302,000 after buying an additional 300 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Waste Management during the second quarter worth about $274,000. WealthPlan Investment Management LLC boosted its position in shares of Waste Management by 6.6% during the second quarter. WealthPlan Investment Management LLC now owns 1,173 shares of the business services provider's stock worth $268,000 after buying an additional 73 shares during the period. Alta Capital Management LLC boosted its position in shares of Waste Management by 0.8% during the second quarter. Alta Capital Management LLC now owns 39,900 shares of the business services provider's stock worth $9,130,000 after buying an additional 327 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Waste Management by 0.3% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 95,508 shares of the business services provider's stock worth $21,854,000 after buying an additional 330 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Price Performance

NYSE:WM opened at $212.99 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 stock's 50 day moving average price is $221.79 and its two-hundred day moving average price is $227.59. The firm has a market capitalization of $85.80 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 2.63 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.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a $0.825 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio is presently 48.96%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BMO Capital Markets upped their price objective 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. UBS Group dropped their target price on Waste Management from $265.00 to $240.00 and set a "neutral" rating on the stock in a report on Thursday. National Bankshares dropped their target price on Waste Management from $250.00 to $243.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 7th. Scotiabank upped their target price on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Finally, Barclays dropped their target price on Waste Management from $272.00 to $271.00 and set an "overweight" rating on the stock in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $253.00.

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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