Voya Investment Management LLC Purchases 668,637 Shares of Waste Management, Inc. $WM

Key Points

• Voya Investment Management LLC significantly increased its stake in Waste Management, Inc. by 738.2%, acquiring an additional 668,637 shares to own a total of 759,217 shares valued at approximately $175.8 million.
• Waste Management announced a quarterly dividend of $0.825 per share, payable on September 26th, resulting in an annualized payout of $3.30 and a yield of 1.5%.
• The company reported a quarterly earnings per share of $1.92, exceeding analyst expectations and marking a 19% year-over-year revenue increase to $6.43 billion.

Voya Investment Management LLC grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 738.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 759,217 shares of the business services provider's stock after acquiring an additional 668,637 shares during the quarter. Voya Investment Management LLC owned 0.19% of Waste Management worth $175,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WM. Brighton Jones LLC increased its stake in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of 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 valued at $25,193,000 after acquiring an additional 15,974 shares during the last quarter. Gotham Asset Management LLC increased its stake in shares of 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 valued at $904,000 after acquiring an additional 1,885 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 valued at $20,307,000 after acquiring an additional 4,782 shares during the last quarter. Finally, NorthRock Partners LLC increased its stake in shares of Waste Management by 57.0% in the 4th quarter. NorthRock Partners LLC now owns 6,290 shares of the business services provider's stock valued at $1,269,000 after acquiring an additional 2,283 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Up 1.3%

NYSE:WM opened at $220.54 on Friday. 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 business has a 50 day moving average price of $227.22 and a two-hundred day moving average price of $229.38. The company has a market cap of $88.84 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.67 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 earnings per share for the quarter, topping 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 firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. The business's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is 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 is 48.96%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WM. Melius began coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Scotiabank boosted their price objective on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. National Bank Financial upgraded Waste Management to a "hold" rating in a research report on Monday, May 26th. Finally, JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Waste Management currently has a consensus rating of "Moderate Buy" and an average price target of $254.35.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.