APG Asset Management N.V. Reduces Position in Waste Management, Inc. $WM

Key Points

• APG Asset Management N.V. reduced its holdings in Waste Management, Inc. by 9.4%, owning 443,818 shares worth approximately $95.12 million after selling 45,899 shares in the first quarter.
• Insider sales included SVP Rafael Carrasco selling 674 shares and CFO Devina A. Rankin selling 57,888 shares, representing a 3.91% and 40.82% decrease in their respective positions.
• Waste Management reported earnings of $1.92 per share, exceeding expectations, with a revenue of $6.43 billion, marking a 19% year-over-year increase.

APG Asset Management N.V. trimmed its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 9.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 443,818 shares of the business services provider's stock after selling 45,899 shares during the quarter. APG Asset Management N.V. owned 0.11% of Waste Management worth $95,120,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC increased its holdings in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after buying an additional 2,320 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in Waste Management by 41.7% in the first quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after buying an additional 232 shares during the last quarter. Calamos Advisors LLC increased its holdings in Waste Management by 2.8% in the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock valued at $65,633,000 after buying an additional 7,751 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Waste Management by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after buying an additional 24,023 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Waste Management by 13.1% during the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider's stock valued at $1,909,000 after purchasing an additional 958 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction 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 sale, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction 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. This trade represents a 40.82% decrease in their position. 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 analysts have recently commented on the company. Robert W. Baird upped their target price on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Citigroup upped their target price on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Oppenheimer upped their target price on Waste Management from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Finally, Melius assumed coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Stock Performance

Shares of NYSE WM opened at $226.9430 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. The stock has a 50 day simple moving average of $229.28 and a 200-day simple moving average of $229.77. The company has a market cap of $91.42 billion, a PE ratio of 33.67, a P/E/G ratio of 2.82 and a beta of 0.64. 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 issued its quarterly earnings data 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 business had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business's revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 1.5%. Waste Management's dividend payout ratio (DPR) is 48.96%.

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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

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.