Ethos Financial Group LLC Acquires 1,193 Shares of Waste Management, Inc. $WM

Key Points

• Ethos Financial Group LLC increased its holdings in Waste Management, Inc. by 117.8%, managing 2,206 shares valued at $483,000 as of the latest reporting period.
• Analysts have a positive outlook on Waste Management, with an average rating of "Moderate Buy" and a consensus price target of $254.35 per share.
• Waste Management recently reported strong quarterly earnings, with an earnings per share (EPS) of $1.92, surpassing estimates and showing a 19% increase in revenue compared to the previous year.

Ethos Financial Group LLC raised its position in Waste Management, Inc. (NYSE:WM - Free Report) by 117.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,206 shares of the business services provider's stock after acquiring an additional 1,193 shares during the period. Ethos Financial Group LLC's holdings in Waste Management were worth $483,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WM. Brighton Jones LLC raised its position 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 buying an additional 2,320 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Waste Management by 41.7% during the first 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 in the last quarter. Calamos Advisors LLC boosted its holdings in Waste Management by 2.8% during the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider's stock worth $65,633,000 after purchasing an additional 7,751 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position 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 worth $137,108,000 after purchasing an additional 24,023 shares in the last quarter. Finally, GAMMA Investing LLC increased 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 buying an additional 958 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Waste Management

In other Waste Management 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 completion of the sale, the chief financial officer owned 83,934 shares of the company's stock, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of Waste Management 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 transaction, the senior vice president directly owned 16,542 shares in the company, valued at approximately $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 currently owned by corporate insiders.

Waste Management Stock Performance

Shares of NYSE WM traded down $0.6010 during mid-day trading on Thursday, hitting $229.4290. The company had a trading volume of 958,779 shares, compared to its average volume of 1,732,965. The stock's 50-day moving average price is $229.61 and its 200-day moving average price is $229.70. The company has a market capitalization of $92.42 billion, a price-to-earnings ratio of 34.04, a P/E/G ratio of 2.80 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.51. 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 posted its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion during 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 quarter in the previous year, the firm earned $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WM. Citigroup upped their price objective on Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Robert W. Baird increased their price target on shares of Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 price objective on shares of Waste Management in a report on Thursday, June 26th. Melius started coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Finally, Raymond James Financial raised their price target on shares of Waste Management from $255.00 to $256.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $254.35.

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.