United Asset Strategies Inc. increased its position in shares of Waste Management, Inc. (NYSE:WM – Free Report) by 1.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 64,979 shares of the business services provider’s stock after purchasing an additional 720 shares during the period. Waste Management accounts for 1.4% of United Asset Strategies Inc.’s investment portfolio, making the stock its 18th largest holding. United Asset Strategies Inc.’s holdings in Waste Management were worth $15,043,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its position in Waste Management by 1.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider’s stock valued at $781,000 after acquiring an additional 44 shares in the last quarter. Ascent Group LLC raised its stake in shares of Waste Management by 0.6% in the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider’s stock worth $1,520,000 after purchasing an additional 44 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of Waste Management by 0.4% in the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider’s stock valued at $2,698,000 after purchasing an additional 44 shares in the last quarter. Stonebridge Financial Group LLC boosted its position in shares of Waste Management by 3.0% during the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider’s stock valued at $355,000 after buying an additional 45 shares during the last quarter. Finally, Formidable Asset Management LLC raised its position in Waste Management by 2.0% in the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider’s stock valued at $536,000 after buying an additional 45 shares during the last quarter. Institutional investors own 80.40% of the company’s stock.
Analyst Ratings Changes
WM has been the topic of a number of analyst reports. Scotiabank lifted their price objective on shares of Waste Management from $265.00 to $275.00 and gave the stock a “sector outperform” rating in a report on Thursday, July 31st. William Blair restated an “outperform” rating on shares of Waste Management in a report on Tuesday, July 29th. CIBC increased their price objective on shares of Waste Management from $244.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, June 26th. Oppenheimer boosted their target price on Waste Management from $260.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, Melius started coverage on Waste Management in a report on Monday, June 9th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.35.
Insider Transactions at Waste Management
In other news, CFO Devina A. Rankin sold 57,888 shares of the business’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 sale, the chief financial officer owned 83,934 shares of the company’s stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the firm’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 transaction 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 approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Waste Management Trading Up 0.7%
Shares of WM stock opened at $229.9820 on Thursday. 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 market cap of $92.64 billion, a P/E ratio of 34.12, a PEG ratio of 2.80 and a beta of 0.64. The company has a 50 day moving average of $229.61 and a 200-day moving average of $229.70. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58.
Waste Management (NYSE:WM – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.Waste Management’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.
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.
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