Adage Capital Partners GP L.L.C. Purchases 46,776 Shares of Waste Management, Inc. $WM

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Waste Management, Inc. by 4.9%, owning nearly 1 million shares valued at approximately $231 million by the end of the quarter.
• Waste Management reported a quarterly EPS of $1.92, exceeding the consensus estimate, with revenue reaching $6.43 billion, a 19% increase from the previous year.
• The company declared a quarterly dividend of $0.825, representing a 1.5% annual yield, with an upcoming payment scheduled for September 26th.

Adage Capital Partners GP L.L.C. lifted its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 999,667 shares of the business services provider's stock after acquiring an additional 46,776 shares during the period. Adage Capital Partners GP L.L.C. owned 0.25% of Waste Management worth $231,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ascent Group LLC boosted its position in Waste Management by 0.6% during the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after purchasing an additional 44 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after buying an additional 44 shares during the last quarter. Stonebridge Financial Group LLC lifted its position in shares of Waste Management by 3.0% in the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after buying an additional 45 shares during the last quarter. Formidable Asset Management LLC increased its stake in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after purchasing an additional 45 shares during the period. Finally, KRS Capital Management LLC increased its stake in shares of Waste Management by 3.1% during the first quarter. KRS Capital Management LLC now owns 1,548 shares of the business services provider's stock worth $358,000 after purchasing an additional 46 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WM. Scotiabank raised their price objective 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. Oppenheimer raised their price objective on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a research note on Monday, June 9th. William Blair reiterated an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Finally, CIBC lifted their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Trading Down 2.2%

Shares of NYSE WM traded down $4.87 during trading on Friday, reaching $220.08. The company had a trading volume of 2,110,690 shares, compared to its average volume of 1,680,656. The company's fifty day moving average price is $228.01 and its 200-day moving average price is $229.71. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The stock has a market cap of $88.65 billion, a P/E ratio of 32.65, a PEG ratio of 2.76 and a beta of 0.64. 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 (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. As a group, research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio is 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.