Callan Family Office LLC Cuts Holdings in Waste Management, Inc. (NYSE:WM)

Key Points

• Callan Family Office LLC reduced its holdings in Waste Management, Inc. by 54.0%, selling 6,245 shares and leaving it with 5,310 shares valued at approximately $1.23 million.
• Waste Management reported earnings per share of $1.92 for the last quarter, exceeding analyst expectations by $0.03, with a revenue increase of 19.0% year-over-year.
• Analysts have given Waste Management an average rating of "Moderate Buy" with a price target of $254.35, highlighting positive sentiment towards the stock's performance.

Callan Family Office LLC trimmed its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 54.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,310 shares of the business services provider's stock after selling 6,245 shares during the quarter. Callan Family Office LLC's holdings in Waste Management were worth $1,229,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WM. Brighton Jones LLC grew its stake in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Golden State Wealth Management LLC grew its stake in Waste Management by 41.7% in the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider's stock valued at $183,000 after purchasing an additional 232 shares during the period. Calamos Advisors LLC grew its stake in Waste Management by 2.8% in the 1st quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock valued at $65,633,000 after purchasing an additional 7,751 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Waste Management by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider's stock valued at $137,108,000 after purchasing an additional 24,023 shares during the period. Finally, GAMMA Investing LLC grew its stake in Waste Management by 13.1% in the 1st 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 period. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WM. Seaport Res Ptn upgraded Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Raymond James Financial increased their price target on Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Melius began coverage on Waste Management in a research note on Monday, June 9th. They set a "buy" rating for the company. Citigroup increased their price target on Waste Management from $260.00 to $271.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $225.00 to $277.00 in a research note on Friday, May 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Waste Management has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Insider Buying and Selling

In related news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $237.36, for a total transaction of $13,740,295.68. Following the sale, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of Waste Management 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 sale, the senior vice president owned 16,542 shares in the company, valued at $3,917,311.02. This represents 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 currently owned by company insiders.

Waste Management Price Performance

Shares of NYSE WM traded up $0.65 during trading hours on Friday, reaching $226.80. 3,371,175 shares of the stock traded hands, compared to its average volume of 1,727,353. The company has a market capitalization of $91.36 billion, a P/E ratio of 33.65, a price-to-earnings-growth 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, Inc. has a 52-week low of $199.69 and a 52-week high of $242.58. The company's 50-day simple moving average is $230.19 and its two-hundred day simple moving average is $229.41.

Waste Management (NYSE:WM - Get Free Report) last posted 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. 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 for the quarter, compared to analyst estimates of $6.37 billion. During the same period last year, the company earned $1.82 EPS. Waste Management's revenue for the quarter was up 19.0% compared to the same quarter last year. Equities research analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current year.

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.