Swedbank AB Increases Stock Position in Waste Management, Inc. $WM

Swedbank AB lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,848,141 shares of the business services provider’s stock after buying an additional 108,066 shares during the period. Swedbank AB’s holdings in Waste Management were worth $427,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WM. GAMMA Investing LLC lifted its holdings in shares of Waste Management by 26,095.2% during the 1st quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock valued at $442,038,000 after acquiring an additional 1,902,081 shares in the last quarter. Nuveen LLC acquired a new position in shares of Waste Management during the 1st quarter valued at $333,089,000. Ameriprise Financial Inc. lifted its holdings in Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after buying an additional 1,239,996 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Waste Management by 26.9% in 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 worth $774,000,000 after buying an additional 709,557 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Waste Management by 738.2% in the 1st quarter. Voya Investment Management LLC now owns 759,217 shares of the business services provider’s stock worth $175,766,000 after buying an additional 668,637 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

NYSE WM opened at $220.54 on Friday. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a market cap of $88.84 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The company has a 50-day moving average price of $227.22 and a two-hundred day moving average price of $229.38.

Waste Management (NYSE:WM) last posted its earnings results on Monday, July 28th. The business services provider reported $1.92 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 during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. Waste Management’s quarterly revenue was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Dividend Announcement

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 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 48.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WM. CIBC boosted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. National Bank Financial upgraded shares of Waste Management to a “hold” rating in a research note on Monday, May 26th. Scotiabank increased their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a research note on Thursday, July 31st. Erste Group Bank lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, BMO Capital Markets increased their price objective on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 30th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.