Waste Management, Inc. $WM Shares Acquired by Avanza Fonder AB

Key Points

• Avanza Fonder AB has increased its stake in Waste Management, Inc. by 7.5%, holding a total of 37,594 shares valued at approximately $8.6 million.
• Waste Management recently reported a quarterly EPS of $1.92, surpassing estimates and showing a 19% year-over-year revenue growth with total revenue at $6.43 billion.
• The company has announced a quarterly dividend of $0.825 per share, resulting in an annualized yield of 1.5% and a payout ratio of 48.96%.

Avanza Fonder AB lifted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,594 shares of the business services provider's stock after acquiring an additional 2,621 shares during the quarter. Avanza Fonder AB's holdings in Waste Management were worth $8,602,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Westend Capital Management LLC grew its position in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares during the last quarter. West Branch Capital LLC grew its position in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares during the last quarter. Saudi Central Bank acquired a new position in Waste Management in the first quarter worth approximately $37,000. GKV Capital Management Co. Inc. acquired a new position in Waste Management in the first quarter worth approximately $38,000. Finally, New Age Alpha Advisors LLC acquired a new position in Waste Management in the first quarter worth approximately $45,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM opened at $216.66 on Friday. The company has a market capitalization of $87.28 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.65 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. The company's fifty day moving average price is $226.04 and its 200 day moving average price is $228.76.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 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 firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the firm posted $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. As a group, analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.5%. Waste Management's payout ratio is presently 48.96%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WM. Melius began coverage on shares of Waste Management in a research report on Monday, June 9th. They set a "buy" rating on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a research report on Thursday, June 26th. Citigroup lowered their price objective on shares of Waste Management from $275.00 to $268.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Finally, CIBC lifted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.17.

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.

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