Erste Asset Management GmbH Grows Stock Holdings in Waste Management, Inc. $WM

Erste Asset Management GmbH lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 38.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,876 shares of the business services provider’s stock after acquiring an additional 30,908 shares during the quarter. Erste Asset Management GmbH’s holdings in Waste Management were worth $25,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WM. Westend Capital Management LLC grew its stake in Waste Management by 126.9% in the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after purchasing an additional 66 shares in the last quarter. West Branch Capital LLC lifted its holdings in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after buying an additional 49 shares during the period. Transce3nd LLC bought a new position in shares of Waste Management during the 4th quarter worth $28,000. GKV Capital Management Co. Inc. purchased a new position in shares of Waste Management during the first quarter valued at $38,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Waste Management in the first quarter valued at about $45,000. Institutional investors own 80.40% of the company’s stock.

Insider Activity

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

Waste Management Trading Up 1.9%

NYSE:WM opened at $228.3880 on Wednesday. The stock has a market capitalization of $92.00 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.75 and a beta of 0.64. 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 firm has a 50 day moving average of $229.70 and a 200 day moving average of $229.70.

Waste Management (NYSE:WM) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $6.37 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The business’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. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on WM shares. JPMorgan Chase & Co. upgraded shares of Waste Management from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. Oppenheimer increased their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. William Blair reissued an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. Melius began coverage on Waste Management in a report on Monday, June 9th. They set a “buy” rating for the company. Finally, CIBC increased their target price on Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $254.35.

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.