Waste Management, Inc. $WM Shares Bought by Mirova

Key Points

• Mirova increased its holdings in Waste Management, Inc. by 2.6% in the first quarter, owning 65,072 shares valued at approximately $15 million, making it the eighth largest position in their portfolio.
• Waste Management reported a quarterly earnings earnings per share of $1.92, exceeding analysts' expectations, with a 19% year-over-year revenue growth to $6.43 billion.
• The company announced a quarterly dividend of $0.825 per share, equating to a 1.5% annualized yield, which will be paid on September 26th.

Mirova grew its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,072 shares of the business services provider's stock after buying an additional 1,635 shares during the quarter. Waste Management makes up 2.7% of Mirova's portfolio, making the stock its 8th biggest holding. Mirova's holdings in Waste Management were worth $15,065,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of Waste Management by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock valued at $781,000 after acquiring an additional 44 shares during the period. Ascent Group LLC grew its stake in Waste Management by 0.6% during the 4th quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock worth $1,520,000 after buying an additional 44 shares during the last quarter. Insight Wealth Strategies LLC grew its stake in Waste Management by 0.4% during the 1st quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock worth $2,698,000 after buying an additional 44 shares during the last quarter. Stonebridge Financial Group LLC grew its stake in Waste Management by 3.0% during the 1st quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock worth $355,000 after buying an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC grew its stake in Waste Management by 2.0% during the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WM. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. Scotiabank boosted their target price on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a research note on Thursday, July 31st. Robert W. Baird boosted their target price on Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Raymond James Financial boosted their target price on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Oppenheimer lifted their price target on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Stock Performance

Shares of WM stock traded up $1.32 on Tuesday, hitting $225.36. The company had a trading volume of 1,466,840 shares, compared to its average volume of 1,838,790. The firm has a market cap of $90.78 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 2.75 and a beta of 0.64. The company has a 50-day moving average price of $228.90 and a 200-day moving average price of $229.81. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company's revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, equities research analysts predict 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. Investors of record on Friday, September 12th will be issued a $0.825 dividend. 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 presently 48.96%.

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.