Union Bancaire Privee UBP SA Grows Holdings in Waste Management, Inc. $WM

Key Points

• Union Bancaire Privee UBP SA increased its holdings in Waste Management, Inc. by 42.6% during the second quarter, owning a total of 30,589 shares valued at approximately $6.99 million.
• Various institutional investors raised their stakes in Waste Management, with Ameriprise Financial Inc. expanding its position by 30.4%, now owning over 5.3 million shares valued at approximately $1.23 billion.
• Waste Management reported earnings of $1.92 per share for the last quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.825 per share with an annualized yield of 1.5%.

Union Bancaire Privee UBP SA boosted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 42.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 30,589 shares of the business services provider's stock after purchasing an additional 9,143 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Waste Management were worth $6,999,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. Northern Trust Corp grew its position in Waste Management by 1.8% during the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after purchasing an additional 70,907 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Waste Management by 26.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock valued at $774,000,000 after purchasing an additional 709,557 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Waste Management by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after purchasing an additional 36,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Waste Management by 1.4% during the 1st 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 purchasing an additional 29,715 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on WM. CIBC increased their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. UBS Group raised their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Barclays initiated coverage on shares of Waste Management in a report on Friday, September 19th. They set an "overweight" rating and a $272.00 price target on the stock. Finally, Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a report on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Waste Management has a consensus rating of "Moderate Buy" and an average price target of $255.17.

Waste Management Price Performance

Shares of NYSE:WM opened at $219.24 on Tuesday. The firm's 50 day moving average price is $225.05 and its 200-day moving average price is $228.48. 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 stock has a market capitalization of $88.31 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data 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. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The firm had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the business earned $1.82 EPS. The business's quarterly revenue was up 19.0% on a year-over-year basis. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.825 per share. The ex-dividend date was Friday, September 12th. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is presently 48.96%.

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.

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