Waste Management, Inc. $WM Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in Waste Management, Inc. by 3.4%, now owning 198,653 shares valued at approximately $45.46 million.
• The company reported a 19% increase in quarterly revenue year-over-year, totaling $6.43 billion, with an EPS of $1.92, surpassing estimates.
• Waste Management declared a quarterly dividend of $0.825 per share, reflecting an annualized dividend of $3.30 and a yield of 1.5%.

KLP Kapitalforvaltning AS increased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 198,653 shares of the business services provider's stock after purchasing an additional 6,600 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Waste Management were worth $45,456,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Zevenbergen Capital Investments LLC boosted its holdings in shares of Waste Management by 30.4% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 9,430 shares of the business services provider's stock valued at $2,158,000 after buying an additional 2,200 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of 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 last quarter. Empowered Funds LLC increased its position in shares of Waste Management by 82.9% during the first quarter. Empowered Funds LLC now owns 22,670 shares of the business services provider's stock worth $5,248,000 after purchasing an additional 10,272 shares in the last quarter. BROOKFIELD Corp ON lifted its holdings in shares of Waste Management by 25.1% in the 1st quarter. BROOKFIELD Corp ON now owns 20,135 shares of the business services provider's stock valued at $4,661,000 after purchasing an additional 4,043 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of Waste Management by 6.7% in the 2nd quarter. Czech National Bank now owns 89,510 shares of the business services provider's stock valued at $20,482,000 after purchasing an additional 5,620 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of WM opened at $217.68 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock's 50 day moving average is $224.08 and its two-hundred day moving average is $228.22. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The firm has a market capitalization of $87.69 billion, a PE ratio of 32.30, a P/E/G ratio of 2.68 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last posted 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. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the firm earned $1.82 EPS. The company's quarterly revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was 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 48.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James Financial boosted their price objective on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Melius Research raised shares of Waste Management to a "strong-buy" rating and set a $263.00 price objective on the stock in a research report on Monday, June 9th. Oppenheimer upped their target price on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. William Blair reissued an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, BMO Capital Markets boosted their price target on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.17.

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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