OMERS ADMINISTRATION Corp Lowers Stake in Waste Management, Inc. $WM

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Waste Management, Inc. by 14.2%, owning now 14,413 shares valued at $3,337,000.
• Waste Management reported earnings of $1.92 per share, surpassing estimates, with quarterly revenue of $6.43 billion, a year-over-year increase of 19.0%.
• The company recently announced a quarterly dividend of $0.825, resulting in a yield of 1.5% for shareholders.

OMERS ADMINISTRATION Corp decreased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,413 shares of the business services provider's stock after selling 2,395 shares during the period. OMERS ADMINISTRATION Corp's holdings in Waste Management were worth $3,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. boosted its position in shares of Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares in the last quarter. Northern Trust Corp raised its stake in Waste Management by 1.8% in the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after buying an additional 70,907 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Waste Management by 7.2% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Waste Management by 1.5% during the first 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Waste Management by 1.4% during 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 acquiring an additional 29,715 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock traded up $2.11 during trading on Monday, hitting $226.69. 1,527,535 shares of the company's stock were exchanged, compared to its average volume of 1,640,870. The stock has a market capitalization of $91.32 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.78 and a beta of 0.64. The business has a 50-day simple moving average of $228.48 and a 200-day simple moving average of $229.80. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

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, topping the consensus estimate of $1.89 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's dividend payout ratio is currently 48.96%.

Wall Street Analyst Weigh In

WM has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. National Bank Financial raised Waste Management to a "hold" rating in a research report on Monday, May 26th. Scotiabank raised their target price 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. Finally, Raymond James Financial boosted their price target on Waste Management from $255.00 to $256.00 and gave the company 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 assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

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.