Zimmer Partners LP Purchases 10,940 Shares of Waste Management, Inc. $WM

Zimmer Partners LP raised its position in shares of Waste Management, Inc. (NYSE:WM) by 20.6% in the first quarter, Holdings Channel reports. The firm owned 63,940 shares of the business services provider’s stock after acquiring an additional 10,940 shares during the quarter. Zimmer Partners LP’s holdings in Waste Management were worth $14,803,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WM. GAMMA Investing LLC boosted its holdings in Waste Management by 26,095.2% in the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider’s stock worth $442,038,000 after purchasing an additional 1,902,081 shares during the last quarter. Nuveen LLC purchased a new stake in Waste Management in the first quarter worth approximately $333,089,000. Ameriprise Financial Inc. boosted its holdings in Waste Management by 30.4% in the first quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock worth $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. Leigh Baldwin & CO. LLC purchased a new stake in Waste Management in the fourth quarter worth approximately $205,506,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Waste Management by 16,999.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider’s stock worth $153,043,000 after purchasing an additional 657,194 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Shares of NYSE:WM opened at $219.03 on Tuesday. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58. The company has a market capitalization of $88.23 billion, a P/E ratio of 32.50, a P/E/G ratio of 2.70 and a beta of 0.64. The firm’s 50 day simple moving average is $227.65 and its two-hundred day simple moving average is $229.60.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The company’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. Research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management’s payout ratio is currently 48.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WM shares. BMO Capital Markets raised their target price on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Raymond James Financial raised their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. UBS Group raised their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, July 30th. Oppenheimer raised their price objective on shares of Waste Management from $260.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, William Blair reissued an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.35.

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.