Resona Asset Management Co. Ltd. Boosts Stock Holdings in Waste Management, Inc. $WM

Resona Asset Management Co. Ltd. lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,215 shares of the business services provider’s stock after acquiring 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 Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. McAdam LLC increased its position in shares of Waste Management by 3.1% during the first quarter. McAdam LLC now owns 1,482 shares of the business services provider’s stock worth $343,000 after acquiring an additional 44 shares during the period. Syntegra Private Wealth Group LLC increased its position in shares of Waste Management by 2.0% during the second quarter. Syntegra Private Wealth Group LLC now owns 2,291 shares of the business services provider’s stock worth $524,000 after acquiring an additional 44 shares during the period. Formidable Asset Management LLC increased its position in shares of Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock worth $536,000 after acquiring an additional 45 shares during the period. Harbour Trust & Investment Management Co increased its position 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 acquiring an additional 45 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Waste Management by 3.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,509 shares of the business services provider’s stock worth $349,000 after acquiring an additional 46 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BMO Capital Markets boosted their target price 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. National Bankshares lowered 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 research note on Tuesday, October 7th. William Blair reiterated an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Oppenheimer reiterated an “outperform” rating and set a $262.00 target price on shares of Waste Management in a research note on Wednesday, October 29th. Finally, Baird R W upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.44.

Waste Management Stock Performance

NYSE 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. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The company has a market capitalization of $80.89 billion, a PE ratio of 31.62, a P/E/G ratio of 2.51 and a beta of 0.62. The company has a fifty day moving average of $215.88 and a two-hundred day moving average of $225.63.

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

Waste Management Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, September 12th. This represents a $3.30 annualized dividend and a dividend yield of 1.6%. Waste Management’s dividend payout ratio is 51.97%.

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.