Fox Run Management L.L.C. Purchases 1,953 Shares of Waste Management, Inc. $WM

Key Points

• Fox Run Management L.L.C. increased its stake in Waste Management, Inc. by 50.4% during the 1st quarter, bringing its total shares owned to 5,829, valued at approximately $1.35 million.
• Waste Management's latest quarterly earnings reported earnings per share of $1.92, exceeding estimates, with revenue up 19% year-over-year at $6.43 billion.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Waste Management, with target prices ranging from $248 to $265 from various research firms.

Fox Run Management L.L.C. increased its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 50.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,829 shares of the business services provider's stock after buying an additional 1,953 shares during the quarter. Fox Run Management L.L.C.'s holdings in Waste Management were worth $1,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Westend Capital Management LLC lifted its stake in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares during the last quarter. Transce3nd LLC purchased a new position in shares of Waste Management in the 4th quarter worth $28,000. West Branch Capital LLC raised its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after purchasing an additional 49 shares during the period. GKV Capital Management Co. Inc. bought a new position in Waste Management in the 1st quarter worth $38,000. Finally, Adalta Capital Management LLC bought a new stake in Waste Management during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Price Performance

WM traded up $0.65 during trading on Friday, reaching $226.80. 3,371,175 shares of the company were exchanged, compared to its average volume of 1,726,726. The company's 50-day moving average is $230.00 and its two-hundred day moving average is $229.68. Waste Management, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company has a market cap 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.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $6.37 billion. During the same period last year, the firm earned $1.82 earnings per share. The business's quarterly revenue was up 19.0% on a year-over-year basis. Research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Insider Activity at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 83,934 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the firm's stock in a transaction that occurred 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 sale, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade 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 insiders.

Analyst Ratings Changes

WM has been the topic of several recent research reports. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a report on Tuesday, July 29th. Raymond James Financial upped their price objective on shares of Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $225.00 to $277.00 in a research report on Friday, May 23rd. HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and raised their price target for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Finally, Robert W. Baird boosted their target price on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.