Greenland Capital Management LP Increases Position in Waste Management, Inc. $WM

Greenland Capital Management LP boosted its holdings in Waste Management, Inc. (NYSE:WM) by 79.9% in the third quarter, HoldingsChannel reports. The firm owned 38,267 shares of the business services provider’s stock after purchasing an additional 17,000 shares during the period. Waste Management comprises about 0.9% of Greenland Capital Management LP’s portfolio, making the stock its 24th largest holding. Greenland Capital Management LP’s holdings in Waste Management were worth $8,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its stake in shares of Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock worth $29,000 after buying an additional 67 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in Waste Management during the 2nd quarter worth $40,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Waste Management in the 3rd quarter worth about $41,000. Wealth Watch Advisors INC acquired a new stake in shares of Waste Management in the 2nd quarter valued at about $43,000. Finally, Costello Asset Management INC bought a new position in shares of Waste Management during the third quarter worth about $49,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Waste Management

In related news, VP Donald J. Smith sold 12,194 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.48, for a total transaction of $2,847,055.12. Following the transaction, the vice president owned 6,024 shares in the company, valued at $1,406,483.52. This trade represents a 66.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 7,352 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $234.50, for a total value of $1,724,044.00. Following the sale, the senior vice president directly owned 15,540 shares in the company, valued at approximately $3,644,130. The trade was a 32.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,746 shares of company stock worth $14,470,494 over the last ninety days. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Shares of WM stock opened at $230.28 on Tuesday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.85. The firm has a market capitalization of $92.88 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. The business has a 50 day simple moving average of $224.40 and a 200 day simple moving average of $219.27.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

Analysts Set New Price Targets

WM has been the subject of a number of research analyst reports. TD Cowen boosted their price target on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company raised their price target on shares of Waste Management from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings raised shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Truist Financial set a $260.00 price objective on shares of Waste Management in a research note on Wednesday, October 29th. Finally, Morgan Stanley decreased their target price on Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $253.55.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.