Waste Management, Inc. $WM Holdings Increased by Zimmer Partners LP

Key Points

• Zimmer Partners LP has increased its holdings in Waste Management, Inc. by 20.6%, bringing their total to 63,940 shares valued at approximately $14.8 million.
• Several analysts have raised their price targets for Waste Management, with JPMorgan Chase upgrading the stock from "neutral" to "overweight" and setting a new target of $277.00.
• Waste Management also announced a quarterly dividend of $0.825 per share, with a yield of 1.5%, payable on September 26th to shareholders of record on September 12th.

Zimmer Partners LP raised its position in Waste Management, Inc. (NYSE:WM - Free Report) by 20.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,940 shares of the business services provider's stock after buying an additional 10,940 shares during the period. Zimmer Partners LP's holdings in Waste Management were worth $14,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Waste Management by 14.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after purchasing an additional 15,974 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Waste Management by 72.6% in the 4th quarter. Gotham Asset Management LLC now owns 4,481 shares of the business services provider's stock valued at $904,000 after purchasing an additional 1,885 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in shares of Waste Management during the fourth quarter worth about $205,506,000. Finally, Moore Capital Management LP purchased a new position in Waste Management during the fourth quarter worth about $4,341,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Down 1.0%

Shares of WM traded down $2.28 during midday trading on Friday, hitting $218.22. The company had a trading volume of 1,087,218 shares, compared to its average volume of 1,712,385. The company's 50 day moving average price is $227.22 and its 200 day moving average price is $229.38. The stock has a market cap of $87.91 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.67 and a beta of 0.64. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. 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 posted its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.89 by $0.03. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 12th. Waste Management's payout ratio is presently 48.96%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and increased their target price for the company from $225.00 to $277.00 in a report on Friday, May 23rd. William Blair reiterated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. CIBC lifted their price target on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. BMO Capital Markets lifted their price target 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. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.