Russell Investments Group Ltd. Boosts Holdings in Waste Management, Inc. $WM

Key Points

• Russell Investments Group Ltd. increased its Waste Management stake by 51% in the fourth quarter, ending with 688,324 shares worth about $151.3 million. Institutional ownership remains high, with hedge funds and other institutions holding about 80.4% of the stock.
• Waste Management reported better-than-expected quarterly earnings of $1.81 per share, topping analyst estimates, while revenue came in at $6.23 billion. The company also posted year-over-year revenue growth of 3.5% and remains profitable with a 31.9% return on equity.
• The company announced a quarterly dividend of $0.945 per share, payable June 18, which works out to an annualized dividend of $3.78 and a yield of about 1.7%. Analysts remain constructive on WM overall, with a consensus rating of Moderate Buy and a price target around $255.30.

Russell Investments Group Ltd. lifted its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 51.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 688,324 shares of the business services provider's stock after purchasing an additional 232,562 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of Waste Management worth $151,314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lombard Odier Asset Management Europe Ltd purchased a new position in Waste Management in the 4th quarter valued at approximately $13,945,000. Lombard Odier Asset Management Switzerland SA increased its position in shares of Waste Management by 58.1% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 41,070 shares of the business services provider's stock worth $9,023,000 after acquiring an additional 15,100 shares during the period. Atom Investors LP raised its stake in shares of Waste Management by 9.0% in the fourth quarter. Atom Investors LP now owns 31,975 shares of the business services provider's stock valued at $7,025,000 after acquiring an additional 2,649 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in shares of Waste Management by 39.1% in the fourth quarter. Clark Capital Management Group Inc. now owns 356,164 shares of the business services provider's stock valued at $78,253,000 after acquiring an additional 100,070 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its holdings in Waste Management by 1.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 45,589 shares of the business services provider's stock valued at $10,016,000 after purchasing an additional 472 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Trading Up 0.8%

WM opened at $218.73 on Wednesday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.93. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company has a market cap of $87.84 billion, a P/E ratio of 31.65, a PEG ratio of 2.27 and a beta of 0.45. The business's 50-day simple moving average is $222.08 and its 200-day simple moving average is $224.79.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.06. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. Waste Management had a return on equity of 31.90% and a net margin of 10.99%.The firm's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. As a group, equities research analysts expect that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be issued a $0.945 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. Waste Management's dividend payout ratio is presently 54.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WM shares. Barclays upped their price target on Waste Management from $266.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Robert W. Baird boosted their price objective on Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Royal Bank Of Canada raised their target price on shares of Waste Management from $235.00 to $240.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. TD Cowen lifted their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.30.

Key Stories Impacting Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Commentary today reiterated that WM’s irreplaceable physical network supports predictable, inflation-protected cash flow, reinforcing the stock’s appeal as a long-term “forever” holding. Why This Once-in-a-Decade Selloff Makes One Waste Management Company a Forever Stock
• Positive Sentiment: WM also reinforced its brand and operational discipline by updating its Recycle Right® guidance to warn customers not to place batteries in recycling or trash bins, a move that highlights safety focus and could help reduce facility fire risk. WM Updates Recycle Right® Rules: No Batteries in Recycling or Trash
• Neutral Sentiment: Several items referenced capital-markets activity around Waste Management entities, including debt issuance in Canada, which may support financing flexibility but does not appear to be a major stock-moving catalyst for WM’s core U.S. operations. Waste Management eyes selling $750 million in bonds
• Negative Sentiment: WM shares have recently softened amid a broader selloff in industrials and a market session where the stock fell while the wider market rose, suggesting some near-term profit-taking or valuation pressure. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know

Waste Management Company Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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