Advisors Asset Management Inc. Raises Position in Waste Management, Inc. $WM

Key Points

• Advisors Asset Management Inc. increased its stake in Waste Management, Inc. by 6.7% in Q1, now owning 39,203 shares valued at approximately $9 million.
• The company reported earnings of $1.92 per share, exceeding analyst expectations, alongside a revenue of $6.43 billion for the last quarter.
• Waste Management announced a quarterly dividend of $0.825, which will be paid on September 26th, reflecting a 1.5% yield.

Advisors Asset Management Inc. grew its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,203 shares of the business services provider's stock after acquiring an additional 2,467 shares during the period. Advisors Asset Management Inc.'s holdings in Waste Management were worth $9,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Westend Capital Management LLC grew its stake in shares of Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after purchasing an additional 66 shares in the last quarter. West Branch Capital LLC lifted 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 valued at $28,000 after acquiring an additional 49 shares during the last quarter. Saudi Central Bank purchased a new stake in Waste Management in the first quarter valued at $37,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management in the first quarter valued at $38,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Waste Management in the first quarter valued at $45,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and upped their target price for the company from $225.00 to $277.00 in a report on Friday, May 23rd. BMO Capital Markets upped their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a report on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, UBS Group upped their target price on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Price Performance

Shares of WM traded down $4.87 during mid-day trading on Friday, reaching $220.08. 2,110,690 shares of the company's stock were exchanged, compared to its average volume of 1,680,656. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company has a 50-day simple moving average of $227.85 and a two-hundred day simple moving average of $229.65. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a market cap of $88.65 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 2.70 and a beta of 0.64.

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 for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. 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 company posted $1.82 EPS. The company's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.825 per share. The ex-dividend date 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 (DPR) is 48.96%.

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.