MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $25.47 Million Stock Position in Waste Management, Inc. $WM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Waste Management, Inc. by 9.3%, acquiring a total of 110,036 shares valued at $25.47 million.
• Waste Management's recent earnings report showed 19% year-over-year revenue growth with an EPS of $1.92, beating analysts' expectations.
• The company declared a quarterly dividend of $0.825, reflecting a 1.5% yield and an annualized payout of $3.30.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,036 shares of the business services provider's stock after buying an additional 9,403 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Waste Management were worth $25,474,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC lifted its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after purchasing an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Waste Management by 14.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock worth $25,193,000 after buying an additional 15,974 shares during the period. Ethic Inc. lifted its position in shares of Waste Management by 21.7% during the 4th quarter. Ethic Inc. now owns 22,174 shares of the business services provider's stock worth $4,475,000 after buying an additional 3,954 shares during the period. Graham Capital Management L.P. bought a new stake in Waste Management in the fourth quarter valued at $3,650,000. Finally, Gotham Asset Management LLC raised its stake in Waste Management by 72.6% during the fourth quarter. Gotham Asset Management LLC now owns 4,481 shares of the business services provider's stock worth $904,000 after acquiring an additional 1,885 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Trading Down 0.7%

Shares of WM stock traded down $1.49 on Wednesday, reaching $217.67. 1,183,396 shares of the stock were exchanged, compared to its average volume of 1,741,233. The stock has a 50 day moving average price of $227.34 and a 200 day moving average price of $229.45. The stock has a market cap of $87.68 billion, a PE ratio of 32.30, a P/E/G ratio of 2.69 and a beta of 0.64. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS 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 analyst estimates of $6.37 billion. During the same period last year, the company earned $1.82 earnings per share. The company's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Announces Dividend

The firm also recently disclosed 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. This represents a $3.30 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, September 12th. Waste Management's dividend payout ratio is currently 48.96%.

Analysts Set New Price Targets

Several brokerages have recently commented on WM. Scotiabank boosted their target price on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Oppenheimer upped their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Melius assumed coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. Finally, UBS Group raised their target price on Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Company 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.