Arrowstreet Capital Limited Partnership Has $236.82 Million Holdings in Waste Management, Inc. $WM

Arrowstreet Capital Limited Partnership grew its position in shares of Waste Management, Inc. (NYSE:WM) by 27.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,034,973 shares of the business services provider’s stock after acquiring an additional 224,909 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.26% of Waste Management worth $236,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Waste Management by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock worth $8,617,866,000 after acquiring an additional 292,868 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Waste Management by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock worth $1,972,856,000 after acquiring an additional 126,329 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Waste Management by 30.4% in the 1st quarter. Ameriprise Financial Inc. now owns 5,316,443 shares of the business services provider’s stock valued at $1,233,240,000 after purchasing an additional 1,239,996 shares during the last quarter. Norges Bank bought a new position in shares of Waste Management in the second quarter worth about $1,064,206,000. Finally, Northern Trust Corp grew its stake in shares of Waste Management by 1.8% during the first quarter. Northern Trust Corp now owns 4,067,680 shares of the business services provider’s stock worth $941,709,000 after buying an additional 70,907 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

WM opened at $214.69 on Wednesday. The stock has a market capitalization of $86.49 billion, a P/E ratio of 33.81, a PEG ratio of 2.51 and a beta of 0.58. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The stock has a 50-day moving average price of $212.31 and a 200-day moving average price of $223.02. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.36.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the company posted $1.96 EPS. Waste Management’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, December 5th. Waste Management’s payout ratio is currently 51.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WM. UBS Group dropped their price objective on shares of Waste Management from $240.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Robert W. Baird raised Waste Management from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Barclays cut their price target on Waste Management from $271.00 to $266.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Truist Financial set a $260.00 price target on shares of Waste Management in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on Waste Management from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $249.14.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 1,380 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the completion of the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

About Waste Management

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.