Wellington Management Group LLP Grows Holdings in Waste Management, Inc. $WM

Key Points

• Wellington Management more than doubled its Waste Management stake in the second quarter, adding 117,372 shares to own 230,830 shares valued at approximately $51.4 million. Institutional investors and hedge funds collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, exceeding analysts’ $1.98 estimate, while revenue rose 4% year over year to $6.68 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.945 per share, equivalent to an annualized $3.78 payout and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $258.89.

Wellington Management Group LLP raised its position in Waste Management, Inc. (NYSE:WM - Free Report) by 103.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,830 shares of the business services provider's stock after buying an additional 117,372 shares during the period. Wellington Management Group LLP owned approximately 0.06% of Waste Management worth $51,447,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Waste Management during the 4th quarter worth approximately $1,022,916,000. Morgan Stanley Institutional Investment Advisors LLC acquired a new stake in shares of Waste Management during the second quarter worth approximately $322,479,000. Corient Private Wealth LLC increased its stake in shares of Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock worth $236,387,000 after buying an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. raised its holdings in Waste Management by 23,051.5% in the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock valued at $17,716,000 after acquiring an additional 767,615 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in Waste Management by 3,209.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock valued at $150,466,000 after acquiring an additional 660,776 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM stock opened at $221.66 on Friday. The company has a market cap of $88.60 billion, a P/E ratio of 31.40, a PEG ratio of 2.76 and a beta of 0.42. The business has a 50 day moving average of $228.62 and a two-hundred day moving average of $227.23. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The business had revenue of $6.68 billion for the quarter, compared to analysts' expectations of $6.71 billion. During the same period in the prior year, the firm earned $1.92 EPS. The business's quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts anticipate that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.945 dividend. This represents a $3.78 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, September 11th. Waste Management's dividend payout ratio (DPR) is presently 53.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WM shares. Weiss Ratings downgraded shares of Waste Management from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 25th. Royal Bank Of Canada lifted their price target on Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lowered Waste Management from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Barclays increased their target price on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price target on Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Company Profile

Waste Management, Inc NYSE: WM is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.

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