AGF Management Ltd. Has $125.54 Million Position in Waste Management, Inc. (NYSE:WM)

Key Points

• AGF Management Ltd. reduced its stake in Waste Management, Inc. by 3.1% during the first quarter, owning 542,259 shares worth approximately $125.5 million.
• Multiple hedge funds have made significant changes to their positions in Waste Management, with Westend Capital Management increasing its holdings by 126.9% in the same period.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Waste Management, with a target price of $254.35, highlighting strong ongoing investor interest.

AGF Management Ltd. lessened its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 542,259 shares of the business services provider's stock after selling 17,082 shares during the quarter. AGF Management Ltd. owned approximately 0.13% of Waste Management worth $125,538,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of 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 acquiring an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Waste Management by 14.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after buying an additional 15,974 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Waste Management by 7.1% in the fourth quarter. Sterling Capital Management LLC now owns 17,082 shares of the business services provider's stock valued at $3,447,000 after buying an additional 1,139 shares during the period. Townsquare Capital LLC boosted its stake in shares of Waste Management by 15.3% in the fourth quarter. Townsquare Capital LLC now owns 31,456 shares of the business services provider's stock valued at $6,348,000 after buying an additional 4,176 shares during the period. Finally, Sagespring Wealth Partners LLC bought a new stake in shares of Waste Management in the fourth quarter valued at approximately $1,129,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Price Performance

Shares of NYSE:WM traded down $4.07 during trading on Tuesday, hitting $233.03. 1,137,629 shares of the company were exchanged, compared to its average volume of 1,527,072. The business's 50 day moving average is $230.63 and its 200-day moving average is $229.32. The company has a market capitalization of $93.87 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 2.91 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced 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. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 earnings per share. Equities analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on Tuesday, May 27th. The stock was 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 directly owned 83,934 shares in the company, valued at $19,922,574.24. This represents 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 this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the stock in a transaction 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 sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WM shares. BMO Capital Markets boosted their price target on Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. HSBC upgraded Waste Management from a "hold" rating to a "buy" rating and boosted their price target for the company from $210.00 to $265.00 in a research note on Friday, April 25th. Melius started coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating for the company. Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Wall Street Zen upgraded Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Waste Management currently has an average rating of "Moderate Buy" and an average target price of $254.35.

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.