Waste Management, Inc. $WM Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 165,215 shares of the business services provider’s stock after buying an additional 4,590 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Waste Management were worth $37,793,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Atlantic Union Bankshares Corp acquired a new stake in shares of Waste Management during the second quarter worth about $10,254,000. Convergence Financial LLC acquired a new stake in Waste Management in the second quarter valued at about $312,000. RFG Bristol Wealth Advisors LLC lifted its position in Waste Management by 25.9% in the second quarter. RFG Bristol Wealth Advisors LLC now owns 6,353 shares of the business services provider’s stock valued at $1,454,000 after purchasing an additional 1,306 shares during the period. Simmons Bank lifted its position in Waste Management by 507.0% in the second quarter. Simmons Bank now owns 15,631 shares of the business services provider’s stock valued at $3,577,000 after purchasing an additional 13,056 shares during the period. Finally, Arrowroot Family Office LLC acquired a new stake in Waste Management in the second quarter valued at about $296,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Up 0.0%

Shares of WM opened at $200.78 on Thursday. The company has a debt-to-equity ratio of 2.36, a current ratio of 0.84 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $215.88 and a 200-day simple moving average of $225.63. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $242.58. The stock has a market cap of $80.89 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a return on equity of 33.00% and a net margin of 10.35%.The business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 12th. Waste Management’s dividend payout ratio (DPR) is 51.97%.

Analyst Ratings Changes

A number of equities research analysts recently commented on WM shares. UBS Group reduced their price objective on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Erste Group Bank downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of Waste Management from $277.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. William Blair restated an “outperform” rating on shares of Waste Management in a research report on Tuesday, July 29th. Finally, Barclays dropped their target price on shares of Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $248.44.

Waste Management Company 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.