Waste Management, Inc. (NYSE:WM) Stake Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its holdings in Waste Management, Inc. (NYSE:WM) by 1,036.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,595 shares of the business services provider’s stock after acquiring an additional 105,423 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Waste Management were worth $23,998,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its holdings in shares of Waste Management by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 4,523,324 shares of the business services provider’s stock valued at $969,401,000 after acquiring an additional 12,664 shares in the last quarter. Capital World Investors boosted its stake in Waste Management by 44.6% during the 1st quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after purchasing an additional 1,303,466 shares in the last quarter. Legal & General Group Plc increased its position in shares of Waste Management by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,846,152 shares of the business services provider’s stock valued at $820,539,000 after purchasing an additional 243,900 shares during the period. International Assets Investment Management LLC raised its stake in shares of Waste Management by 94,414.4% in the 3rd quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock worth $538,013,000 after buying an additional 2,588,842 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Waste Management by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,217,389 shares of the business services provider’s stock valued at $473,047,000 after buying an additional 221,380 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $206.80 on Friday. The firm has a market cap of $82.99 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.34 and a beta of 0.74. Waste Management, Inc. has a 1 year low of $160.90 and a 1 year high of $225.00. The company has a current ratio of 1.07, a quick ratio of 1.03 and a debt-to-equity ratio of 2.21. The business has a fifty day simple moving average of $208.74 and a 200 day simple moving average of $208.54.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.82. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. During the same period in the previous year, the company earned $1.51 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.24 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Friday, September 13th. Waste Management’s dividend payout ratio is 47.69%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WM. CIBC cut their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Truist Financial reduced their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Oppenheimer cut their price objective on Waste Management from $229.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. BMO Capital Markets decreased their target price on Waste Management from $215.00 to $213.00 and set a “market perform” rating on the stock in a report on Friday, July 26th. Finally, Royal Bank of Canada decreased their price target on Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Waste Management currently has an average rating of “Moderate Buy” and an average target price of $218.89.

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.