Vancity Investment Management Ltd Takes $956,000 Position in Waste Management, Inc. $WM

Key Points

• Vancity Investment Management Ltd has made a significant investment in Waste Management, acquiring a stake valued at approximately $956,000 in the first quarter of the year.
• Waste Management reported a 19.0% increase in revenue year-over-year for the last quarter, reaching $6.43 billion, and exceeded EPS expectations by $0.03.
• The company has declared a quarterly dividend of $0.825 per share, equating to an annualized dividend yield of 1.5%, with a payout ratio of 48.96%.

Vancity Investment Management Ltd bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,131 shares of the business services provider's stock, valued at approximately $956,000.

Several other hedge funds have also recently modified their holdings of WM. Brighton Jones LLC increased its stake in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after buying an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Waste Management by 41.7% in the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock worth $183,000 after acquiring an additional 232 shares during the last quarter. Calamos Advisors LLC increased its position in shares of Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after purchasing an additional 7,751 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Waste Management by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after purchasing an additional 24,023 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Waste Management by 13.1% in the 1st quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after purchasing an additional 958 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WM shares. Oppenheimer upped their target price on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Melius began coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. Scotiabank increased their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Raymond James Financial raised their target price on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, CIBC upped their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Trading Down 0.7%

NYSE:WM traded down $1.49 on Wednesday, hitting $217.67. The stock had a trading volume of 1,183,396 shares, compared to its average volume of 1,741,233. The company has a fifty day moving average price of $227.34 and a two-hundred day moving average price of $229.45. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year 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 cap of $87.68 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 2.69 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.825 per share. 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 dividend payout ratio is currently 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.