Waste Management, Inc. $WM Shares Purchased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. increased its stake in Waste Management, Inc. by 10.3% during Q1, now holding over 1.1 million shares valued at approximately $258.8 million.
• Several other hedge funds, including T. Rowe Price Investment Management Inc., have also significantly boosted their holdings in Waste Management, reflecting a strong institutional interest with 80.4% of shares owned by institutional investors.
• Waste Management recently reported $6.43 billion in revenue for the last quarter and declared a $0.825 quarterly dividend, with a stock yield of 1.5%.

Price T Rowe Associates Inc. MD grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,117,912 shares of the business services provider's stock after acquiring an additional 103,952 shares during the period. Price T Rowe Associates Inc. MD owned about 0.28% of Waste Management worth $258,809,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westend Capital Management LLC raised its stake in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares during the period. West Branch Capital LLC raised its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management in the 1st quarter valued at approximately $38,000. Adalta Capital Management LLC purchased a new stake in Waste Management during the 4th quarter worth approximately $40,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Waste Management during the 1st quarter worth approximately $45,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.6%

Shares of NYSE WM traded up $1.32 during mid-day trading on Tuesday, reaching $225.36. The company had a trading volume of 1,466,840 shares, compared to its average volume of 1,838,790. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The firm has a 50 day simple moving average of $228.90 and a two-hundred day simple moving average of $229.81. The stock has a market cap of $90.78 billion, a P/E ratio of 33.44, a PEG ratio of 2.75 and a beta of 0.64. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS 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 the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company's revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th. Waste Management's dividend payout ratio (DPR) is 48.96%.

Wall Street Analysts Forecast Growth

WM has been the topic of several recent research reports. Scotiabank upped their target price on shares of Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Raymond James Financial upped their target price on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. UBS Group upped their target price on shares of Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Citigroup upped their target price on shares of Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $254.35.

About Waste Management

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.