Caisse DE Depot ET Placement DU Quebec Increases Stock Holdings in Waste Management, Inc. $WM

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Waste Management, Inc. by 111.5%, acquiring an additional 115,869 shares, putting its total holdings at roughly $50.88 million.
• Waste Management reported Q2 earnings of $1.92 EPS, exceeding the analyst consensus of $1.89, with revenue rising 19% year-over-year to $6.43 billion.
• The company announced a quarterly dividend of $0.825 per share, set to be paid on September 26th, representing an annualized yield of 1.5%.

Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 111.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 219,768 shares of the business services provider's stock after purchasing an additional 115,869 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.05% of Waste Management worth $50,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its position in shares of 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 acquiring an additional 1,239,996 shares during the period. Northern Trust Corp lifted its position in shares of Waste Management by 1.8% during the 1st quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider's stock valued at $941,709,000 after acquiring an additional 70,907 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Waste Management by 7.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock valued at $531,456,000 after acquiring an additional 177,398 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Waste Management by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after acquiring an additional 36,836 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Waste Management by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after acquiring an additional 29,715 shares during the period. 80.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on WM. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research report on Monday, June 9th. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Oppenheimer boosted their price target on shares of Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Robert W. Baird boosted their price target on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Price Performance

NYSE WM traded down $1.27 on Thursday, reaching $224.56. 999,910 shares of the company's stock traded hands, compared to its average volume of 1,673,837. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month 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 stock has a 50-day simple moving average of $228.58 and a 200 day simple moving average of $229.77. The stock has a market cap of $90.46 billion, a PE ratio of 33.32, a P/E/G ratio of 2.77 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (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 analysts' expectations of $6.37 billion. During the same quarter last year, the business earned $1.82 earnings per share. The business's revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.825 dividend. 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 dividend payout ratio (DPR) is currently 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.