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Aigen Investment Management LP Increases Stock Holdings in Waste Management, Inc. (NYSE:WM)

Waste Management logo with Business Services background

Key Points

  • Aigen Investment Management LP increased its stake in Waste Management, Inc. by 405.4% in the first quarter, owning 15,480 shares now valued at $3,584,000.
  • The CFO, Devina A. Rankin, sold 57,888 shares for approximately $13.74 million, reflecting a 40.82% decrease in her holdings.
  • Waste Management reported a 19.0% growth in quarterly revenue year-over-year, totaling $6.43 billion and earnings of $1.92 per share.
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Aigen Investment Management LP lifted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 405.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,480 shares of the business services provider's stock after buying an additional 12,417 shares during the period. Waste Management comprises about 0.6% of Aigen Investment Management LP's holdings, making the stock its 22nd largest position. Aigen Investment Management LP's holdings in Waste Management were worth $3,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of WM. Westend Capital Management LLC boosted its position 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 during the last quarter. Transce3nd LLC purchased a new position in Waste Management in the fourth quarter worth $28,000. West Branch Capital LLC boosted its position in Waste Management by 69.0% in the first quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares during the last quarter. Adalta Capital Management LLC purchased a new position in Waste Management in the fourth quarter worth $40,000. Finally, New Age Alpha Advisors LLC purchased a new position in Waste Management in the first quarter worth $45,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Transactions at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was 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 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. 0.18% of the stock is owned by corporate insiders.

Waste Management Price Performance

Shares of NYSE WM opened at $235.11 on Friday. The firm has a market capitalization of $94.71 billion, a P/E ratio of 34.88, a P/E/G ratio of 2.88 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. The stock's 50-day simple moving average is $230.87 and its two-hundred day simple moving average is $228.96. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion for 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%. The company's quarterly 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 EPS. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, June 6th. Waste Management's dividend payout ratio is currently 48.96%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WM. Melius began coverage on Waste Management in a research report on Monday, June 9th. They issued a "buy" rating on the stock. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 target price on the stock in a research note on Monday, June 9th. HSBC upgraded 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. Seaport Res Ptn upgraded Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $254.35.

Check Out Our Latest Stock Report on Waste Management

Waste Management Profile

(Free Report)

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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