Waste Management, Inc. $WM Shares Purchased by Trust Point Inc.

Key Points

• Trust Point Inc. significantly increased its holdings in Waste Management, Inc., raising its position by 102.0% in Q2, owning a total of 3,121 shares now valued at $714,000.
• Several other institutional investors made notable adjustments, with GAMMA Investing LLC increasing its holdings by an astounding 26,095.2%, now owning nearly 1.9 million shares worth approximately $442 million.
• The company's recent earnings exceeded expectations with $1.92 EPS reported for Q2, alongside a 19.0% year-over-year revenue growth to $6.43 billion.

Trust Point Inc. boosted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 102.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,121 shares of the business services provider's stock after purchasing an additional 1,576 shares during the period. Trust Point Inc.'s holdings in Waste Management were worth $714,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in Waste Management by 30.4% during the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider's stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. Northern Trust Corp grew its stake in Waste Management by 1.8% in the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock worth $941,709,000 after acquiring an additional 70,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Waste Management by 26.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,343,267 shares of the business services provider's stock worth $774,000,000 after acquiring an additional 709,557 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Waste Management by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock worth $570,108,000 after acquiring an additional 36,836 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Waste Management by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock worth $505,137,000 after purchasing an additional 29,715 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

WM traded down $1.07 on Tuesday, reaching $215.92. 308,999 shares of the company's stock were exchanged, compared to its average volume of 1,703,926. The stock has a market cap of $86.98 billion, a PE ratio of 32.04, a P/E/G ratio of 2.65 and a beta of 0.64. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The stock's fifty day moving average price is $225.80 and its 200-day moving average price is $228.69. 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 posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating 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 company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same period in the previous year, the business posted $1.82 EPS. Waste Management's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given 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 dividend yield of 1.5%. Waste Management's dividend payout ratio is currently 48.96%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WM shares. UBS Group upped their price target on shares of Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Oppenheimer increased their target price on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. National Bank Financial raised shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. BMO Capital Markets increased their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research report on Wednesday, July 30th. Finally, CIBC increased their target price on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.