OFI Invest Asset Management Decreases Stock Holdings in Waste Management, Inc. $WM

Key Points

• OFI Invest Asset Management has reduced its stake in Waste Management, Inc. by 13.8%, now holding 7,635 shares valued at approximately $1.75 million.
• Institutional investors remain significant shareholders, collectively owning 80.40% of the company, with several funds increasing their holdings during the same quarter.
• Waste Management reported a quarterly EPS of $1.92, exceeding analysts' expectations, with a revenue increase of 19.0% year-over-year.

OFI Invest Asset Management cut its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 13.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,635 shares of the business services provider's stock after selling 1,224 shares during the quarter. OFI Invest Asset Management's holdings in Waste Management were worth $1,747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its stake in Waste Management by 4.8% in the second quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 150,820 shares of the business services provider's stock valued at $34,511,000 after buying an additional 6,965 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in Waste Management in the second quarter valued at about $686,000. Vanguard Personalized Indexing Management LLC raised its stake in Waste Management by 19.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 57,287 shares of the business services provider's stock valued at $13,111,000 after buying an additional 9,305 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in Waste Management by 7.0% in the second quarter. Concurrent Investment Advisors LLC now owns 28,393 shares of the business services provider's stock valued at $6,497,000 after buying an additional 1,849 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in Waste Management by 1.1% in the second quarter. Johnson Investment Counsel Inc. now owns 549,636 shares of the business services provider's stock valued at $125,768,000 after buying an additional 6,026 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WM has been the subject of a number of research analyst reports. Citigroup decreased their price target on Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a research note on Tuesday, September 16th. National Bankshares reduced their price objective on Waste Management from $250.00 to $243.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 7th. Scotiabank raised their price objective on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Erste Group Bank cut Waste Management from a "buy" rating to a "hold" rating in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $254.32.

Waste Management Trading Up 0.7%

Shares of NYSE:WM opened at $219.09 on Friday. The company has a market capitalization of $88.26 billion, a PE ratio of 32.51, a PEG ratio of 2.70 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. The business has a 50 day moving average of $223.04 and a two-hundred day moving average of $227.97. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The business 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%. The business's revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

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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