Waste Management, Inc. $WM Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Waste Management, Inc. by 34.7%, now holding 28,777 shares valued at approximately $6.66 million after selling 15,277 shares.
• Several large investors have increased their positions in Waste Management, with holdings now representing 80.40% of the stock owned by institutional investors.
• Research firms have recently upgraded Waste Management's stock ratings, with a current average rating of "Moderate Buy" and an average price target of $254.35.

BI Asset Management Fondsmaeglerselskab A S lessened its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 34.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,777 shares of the business services provider's stock after selling 15,277 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Waste Management were worth $6,662,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westend Capital Management LLC boosted its stake in shares of 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 buying an additional 66 shares during the last quarter. Transce3nd LLC purchased a new stake in shares of Waste Management in the fourth quarter worth about $28,000. West Branch Capital LLC boosted its stake in shares of 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 buying an additional 49 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in shares of Waste Management in the first quarter worth about $38,000. Finally, Adalta Capital Management LLC purchased a new stake in shares of Waste Management in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Activity at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction that occurred 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 owned 83,934 shares of the company's stock, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. 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 stock in a transaction that occurred 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 directly owned 16,542 shares of the company's stock, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Price Performance

Shares of Waste Management stock traded down $2.6670 during mid-day trading on Friday, reaching $226.9430. 1,331,593 shares of the stock traded hands, compared to its average volume of 1,859,571. The business has a 50-day moving average of $229.28 and a 200 day moving average of $229.77. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58. The stock has a market capitalization of $91.42 billion, a PE ratio of 33.67, a PEG ratio of 2.82 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 (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The business's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Waste Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. Waste Management's dividend payout ratio is presently 48.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on 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. Oppenheimer increased their price target on Waste Management from $260.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. National Bank Financial upgraded Waste Management to a "hold" rating in a research report on Monday, May 26th. Finally, Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 price target on the stock in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $254.35.

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.