Corient IA LLC Makes New $637,000 Investment in Waste Management, Inc. (NYSE:WM)

Key Points

• Corient IA LLC has made a new investment of $637,000 in Waste Management, acquiring 2,750 shares of the company during the first quarter.
• Waste Management's stock opened at $226.80 and showed a market capitalization of $91.36 billion, with notable financial metrics including a P/E ratio of 33.65.
• The company reported a quarterly EPS of $1.92, exceeding analysts' estimates, and a 19.0% year-over-year increase in revenue, totaling $6.43 billion.

Corient IA LLC acquired a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,750 shares of the business services provider's stock, valued at approximately $637,000.

A number of other hedge funds have also recently bought and sold shares of WM. Westend Capital Management LLC boosted its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after acquiring an additional 66 shares during the period. Transce3nd LLC bought a new position in shares of Waste Management in the 4th quarter valued at approximately $28,000. West Branch Capital LLC raised its stake in shares of Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Waste Management in the 1st quarter worth approximately $38,000. Finally, Adalta Capital Management LLC acquired a new stake in shares of Waste Management during the 4th quarter worth approximately $40,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Up 0.3%

Shares of NYSE:WM opened at $226.80 on Friday. The company has a market capitalization of $91.36 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The business's 50-day moving average is $230.00 and its 200-day moving average is $229.63. 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 data on Monday, July 28th. The business services provider reported $1.92 earnings per share (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 company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $1.82 EPS. The firm's revenue was up 19.0% compared to the same quarter last year. Equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WM shares. Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. UBS Group increased their price target on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. William Blair restated an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. BMO Capital Markets upped their price target on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 30th. Finally, Melius began coverage on Waste Management in a research report on Monday, June 9th. They set a "buy" rating for the company. 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 company's stock. According to MarketBeat.com, the stock has a consensus 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 the company's 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 transaction, the chief financial officer owned 83,934 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $159,609.94. Following 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 disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

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.

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