Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in Waste Management, Inc. (NYSE:WM)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,980 shares of the business services provider’s stock after buying an additional 737 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Waste Management were worth $2,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WM. Brighton Jones LLC boosted its stake in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Waste Management by 14.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider’s stock worth $25,193,000 after buying an additional 15,974 shares during the period. Cohen & Steers Inc. boosted its stake in Waste Management by 5.4% during the fourth quarter. Cohen & Steers Inc. now owns 2,047 shares of the business services provider’s stock worth $413,000 after buying an additional 104 shares during the period. CreativeOne Wealth LLC boosted its stake in Waste Management by 99.9% during the fourth quarter. CreativeOne Wealth LLC now owns 3,226 shares of the business services provider’s stock worth $651,000 after buying an additional 1,612 shares during the period. Finally, XTX Topco Ltd purchased a new position in Waste Management during the fourth quarter worth $268,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WM shares. HSBC raised shares of Waste Management from a “hold” rating to a “buy” rating and boosted their target price for the company from $210.00 to $265.00 in a research note on Friday, April 25th. William Blair reissued an “outperform” rating on shares of Waste Management in a research note on Tuesday, July 29th. Robert W. Baird boosted their target price on shares of Waste Management from $235.00 to $245.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Citigroup boosted their target price on shares of Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets boosted their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a “market perform” rating in a research note on Wednesday, July 30th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average target price of $254.35.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 674 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Waste Management Stock Performance

WM opened at $229.80 on Thursday. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company has a market cap of $92.57 billion, a P/E ratio of 34.09, a price-to-earnings-growth ratio of 2.86 and a beta of 0.64. The firm’s 50-day moving average price is $230.44 and its 200-day moving average price is $229.32.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) 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 firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

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.