Zevenbergen Capital Investments LLC Acquires 2,200 Shares of Waste Management, Inc. $WM

Key Points

• Zevenbergen Capital Investments LLC increased its holdings in Waste Management, Inc. by 30.4% during the second quarter, now owning 9,430 shares valued at $2.15 million.
• Waste Management reported earnings of $1.92 EPS for the last quarter, surpassing estimates and achieving a 19.0% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.825 per share, which translates to an annualized yield of 1.5%.

Zevenbergen Capital Investments LLC raised its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 30.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,430 shares of the business services provider's stock after purchasing an additional 2,200 shares during the period. Zevenbergen Capital Investments LLC's holdings in Waste Management were worth $2,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. raised its position 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 in the last quarter. Northern Trust Corp raised its position in 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 purchasing an additional 70,907 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Waste Management by 26.9% during 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 valued at $774,000,000 after purchasing an additional 709,557 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 purchasing an additional 177,398 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 36,836 shares in the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Trading Down 1.0%

Waste Management stock opened at $218.22 on Friday. 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, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a market capitalization of $87.91 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 2.71 and a beta of 0.64. The stock has a 50-day moving average price of $227.06 and a 200 day moving average price of $229.30.

Waste Management (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The company's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The business also recently announced 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 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 presently 48.96%.

Wall Street Analysts Forecast Growth

WM has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research report on Wednesday, July 30th. William Blair reissued an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Erste Group Bank lowered Waste Management from a "buy" rating to a "hold" rating in a research report on Thursday. Raymond James Financial boosted their price target on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, UBS Group boosted their price target on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

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.

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