Norinchukin Bank The Grows Stake in Waste Management, Inc. $WM

Key Points

• Norinchukin Bank has increased its stake in Waste Management, Inc. by 8.4%, acquiring an additional 1,370 shares, bringing its total holdings to 17,606 shares valued at approximately $4.08 million.
• Waste Management reported a quarterly earnings per share (EPS) of $1.92, surpassing analysts' expectations and achieving a revenue of $6.43 billion, a 19% increase year-over-year.
• Institutional investors hold approximately 80.40% of Waste Management's stock, indicating strong confidence in the company's market position and potential growth.

Norinchukin Bank The lifted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,606 shares of the business services provider's stock after acquiring an additional 1,370 shares during the period. Norinchukin Bank The's holdings in Waste Management were worth $4,076,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Waste Management by 41.7% in the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after acquiring an additional 232 shares during the period. Calamos Advisors LLC boosted its stake in shares of Waste Management by 2.8% in the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after acquiring an additional 7,751 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Waste Management by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after buying an additional 24,023 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after buying an additional 958 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president directly owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total value of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Trading Down 1.2%

Shares of NYSE:WM traded down $2.6670 during trading on Friday, hitting $226.9430. The company had a trading volume of 1,331,593 shares, compared to its average volume of 1,869,840. The stock has a market cap of $91.42 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a fifty day simple moving average of $229.28 and a two-hundred day simple moving average of $229.85. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82.

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 (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 return on equity of 34.37% and a net margin of 11.36%.The company's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the company earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors 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%. Waste Management's dividend payout ratio is currently 48.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WM shares. Oppenheimer increased their price target on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Seaport Res Ptn raised Waste Management to a "hold" rating in a research note on Tuesday, May 6th. BMO Capital Markets increased their price target on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Robert W. Baird increased their price target on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and increased their price target for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock 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.