Jennison Associates LLC Acquires Shares of 5,042 Waste Management, Inc. $WM

Jennison Associates LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 5,042 shares of the business services provider’s stock, valued at approximately $1,159,000.

A number of other hedge funds have also modified their holdings of WM. Brighton Jones LLC boosted its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new position in shares of Waste Management during the 1st quarter worth approximately $325,000. Sei Investments Co. grew its position in shares of Waste Management by 8.0% in the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after purchasing an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Waste Management by 68.2% in the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after purchasing an additional 148,590 shares during the last quarter. Finally, Glenview Trust co lifted its position in Waste Management by 5.1% during the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after buying an additional 162 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Waste Management

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: A Seeking Alpha piece highlighted Waste Management as a defensive name with a positive outlook, suggesting investors may still view WM as a stable anchor in uncertain markets. Waste Management: Positive Outlook As Defensive Anchor Remains
• Neutral Sentiment: Analysts said WM’s earnings are expected to grow, but also noted the stock may not have the setup for a clear earnings beat, which keeps expectations balanced ahead of the next report. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Another earnings preview from Zacks struck a similar tone, saying investors should be prepared for growth but not necessarily a strong upside surprise. Waste Management (WM) Earnings Expected to Grow: Should You Buy?
• Negative Sentiment: WM fell as the broader market moved higher, indicating some near-term profit-taking or relative weakness versus the market. Waste Management (WM) Stock Sinks As Market Gains: What You Should Know
• Negative Sentiment: A local report said Waste Management will end service in a Centre County township, which could slightly weigh on sentiment even if the business impact is limited. Waste Management to end service in a Centre County township

Waste Management Stock Up 1.5%

Shares of NYSE:WM opened at $236.69 on Thursday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 2.22. The firm’s 50-day simple moving average is $223.42 and its 200-day simple moving average is $226.86. The company has a market cap of $95.05 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.84 and a beta of 0.44.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Tuesday, April 28th. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Waste Management, Inc. will post 8.15 earnings per share for the current year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were paid a $0.945 dividend. The ex-dividend date was Friday, June 5th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.6%. Waste Management’s payout ratio is 54.70%.

Analysts Set New Price Targets

WM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Waste Management from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Robert W. Baird lifted their target price on Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Citigroup lifted their price objective on shares of Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Canadian Imperial Bank of Commerce upgraded Waste Management from a “hold” rating to an “outperformer” rating and set a $244.00 price objective on the stock in a report on Tuesday, July 7th. Finally, TD Cowen raised their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $256.74.

About Waste Management

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.