AEGON ASSET MANAGEMENT UK Plc Purchases Shares of 1,574 Waste Management, Inc. $WM

AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Waste Management, Inc. (NYSE:WM) in the 2nd quarter, HoldingsChannel reports. The firm purchased 1,574 shares of the business services provider’s stock, valued at approximately $360,000.

Several other institutional investors have also added to or reduced their stakes in the business. Aries Wealth Management boosted its position in Waste Management by 1.8% during the second quarter. Aries Wealth Management now owns 12,400 shares of the business services provider’s stock valued at $2,837,000 after buying an additional 216 shares during the period. JGP Wealth Management LLC boosted its position in Waste Management by 4.0% during the second quarter. JGP Wealth Management LLC now owns 9,464 shares of the business services provider’s stock valued at $2,165,000 after buying an additional 365 shares during the period. J.Safra Asset Management Corp boosted its position in Waste Management by 8.1% during the second quarter. J.Safra Asset Management Corp now owns 2,102 shares of the business services provider’s stock valued at $480,000 after buying an additional 158 shares during the period. TD Asset Management Inc boosted its holdings in shares of Waste Management by 2.9% during the second quarter. TD Asset Management Inc now owns 279,616 shares of the business services provider’s stock worth $63,982,000 after purchasing an additional 7,784 shares during the period. Finally, Harbour Trust & Investment Management Co boosted its holdings in shares of Waste Management by 1.1% during the second quarter. Harbour Trust & Investment Management Co now owns 4,120 shares of the business services provider’s stock worth $943,000 after purchasing an additional 45 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE WM opened at $213.79 on Thursday. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The company has a 50 day simple moving average of $222.19 and a two-hundred day simple moving average of $227.72. The company has a market capitalization of $86.12 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 2.68 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

Waste Management (NYSE:WM) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.03. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter last year, the firm earned $1.82 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Waste Management has set its FY 2025 guidance at EPS. Analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.825 per share. The ex-dividend date of this dividend was 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 (DPR) is currently 48.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WM shares. Stifel Nicolaus started coverage on shares of Waste Management in a report on Tuesday, September 30th. They set a “buy” rating and a $252.00 target price for the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. National Bankshares dropped their target price on shares of Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Citigroup dropped their target price on shares of Waste Management from $275.00 to $268.00 and set a “buy” rating for the company in a report on Tuesday, September 16th. Finally, Oppenheimer dropped their target price on shares of Waste Management from $265.00 to $262.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.32.

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.