SCS Capital Management LLC Acquires New Shares in Waste Management, Inc. $WM

Key Points

• SCS Capital Management LLC has acquired a new stake in Waste Management, Inc. with 7,147 shares valued at approximately $1,655,000.
• Institutional investors now own 80.40% of Waste Management's stock, with multiple hedge funds increasing their positions significantly in recent quarters.
• Waste Management recently reported a quarterly earnings per share of $1.92, beating estimates and showing a 19.0% year-over-year revenue increase.

SCS Capital Management LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 7,147 shares of the business services provider's stock, valued at approximately $1,655,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Waste Management by 51.1% in the 4th 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 last quarter. Bank Pictet & Cie Europe AG increased its stake in Waste Management by 14.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock worth $25,193,000 after acquiring an additional 15,974 shares during the last quarter. Gotham Asset Management LLC increased its stake in Waste Management by 72.6% in the 4th quarter. Gotham Asset Management LLC now owns 4,481 shares of the business services provider's stock worth $904,000 after acquiring an additional 1,885 shares during the last quarter. Moore Capital Management LP bought a new position in Waste Management in the 4th quarter worth about $4,341,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Waste Management by 5.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,633 shares of the business services provider's stock worth $20,307,000 after acquiring an additional 4,782 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Melius assumed coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 price objective for the company in a report on Monday, June 9th. BMO Capital Markets increased their price objective on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Raymond James Financial increased their price objective on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Two 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Stock Up 0.0%

WM stock opened at $219.15 on Wednesday. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The firm has a market cap of $88.28 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. The business has a 50 day moving average of $227.46 and a 200 day moving average of $229.53.

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 for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the company earned $1.82 EPS. The firm's revenue for the quarter was up 19.0% on a year-over-year basis. 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 fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.825 dividend. The ex-dividend date of this dividend is 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 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.

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