UniSuper Management Pty Ltd Acquires 30,174 Shares of Waste Management, Inc. $WM

Key Points

• UniSuper Management Pty Ltd has boosted its holdings in Waste Management, Inc. by 115.6%, acquiring an additional 30,174 shares during the first quarter, bringing its total shares to 56,280.
• Analysts have recently upgraded their ratings on Waste Management, with JPMorgan Chase raising the price target from $225.00 to $277.00 and two analysts issuing a Strong Buy rating.
• Waste Management reported a quarterly EPS of $1.92, surpassing estimates, and has also announced a quarterly dividend of $0.825 to be paid on September 26th.

UniSuper Management Pty Ltd raised its position in Waste Management, Inc. (NYSE:WM - Free Report) by 115.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,280 shares of the business services provider's stock after buying an additional 30,174 shares during the period. UniSuper Management Pty Ltd's holdings in Waste Management were worth $13,029,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westend Capital Management LLC increased its stake in 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 buying an additional 66 shares during the last quarter. West Branch Capital LLC increased its stake in 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 buying an additional 49 shares during the last quarter. Saudi Central Bank purchased a new stake in Waste Management in the 1st quarter valued at about $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management in the 1st quarter valued at about $38,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Waste Management in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WM. UBS Group raised their price target 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. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research note on Thursday, June 26th. BMO Capital Markets lifted their price objective on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. Finally, CIBC lifted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Two research 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Stock Performance

NYSE WM opened at $220.08 on Monday. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a fifty day moving average of $227.85 and a 200-day moving average of $229.66. The company has a market capitalization of $88.65 billion, a P/E ratio of 32.65, a P/E/G ratio of 2.70 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) 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 company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The firm's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal 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. The ex-dividend date is Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management's payout ratio is 48.96%.

Waste Management 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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