Waste Management, Inc. $WM Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Waste Management, Inc. by 54.8% during Q2, owning 92,031 shares valued at approximately $21 million.
• Waste Management reported a 19% revenue increase year-over-year, with Q2 earnings per share beating estimates at $1.92.
• The company announced a quarterly dividend of $0.825 per share, reflecting an annual yield of 1.5% and a dividend payout ratio of 48.96%.

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 54.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,031 shares of the business services provider's stock after acquiring an additional 32,577 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Waste Management were worth $21,059,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC raised its holdings in shares of Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after buying an additional 66 shares during the last quarter. West Branch Capital LLC raised its holdings 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 purchasing an additional 49 shares during the period. Saudi Central Bank bought a new stake in Waste Management in the 1st quarter valued at $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management in the 1st quarter valued at $38,000. Finally, Adalta Capital Management LLC acquired a new position in Waste Management in the 4th quarter valued at $40,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of WM stock traded down $0.19 on Monday, reaching $216.21. The stock had a trading volume of 569,836 shares, compared to its average volume of 1,706,904. The stock has a market cap of $87.10 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year 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. The company has a 50 day simple moving average of $226.04 and a 200 day simple moving average of $228.78.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $1.82 earnings per share. Waste Management's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. CIBC increased their target price on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Barclays initiated coverage on Waste Management in a research report on Friday. They issued an "overweight" rating and a $272.00 target price for the company. Melius began coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. BMO Capital Markets raised their price objective on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Finally, Citigroup lowered their price objective on Waste Management from $275.00 to $268.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and an average price target of $255.17.

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.