Gulf International Bank UK Ltd Decreases Stake in Waste Management, Inc. (NYSE:WM)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Waste Management, Inc. by 26.0%, bringing its total shares owned to 23,567, valued at approximately $5.46 million.
• Several hedge funds have altered their positions in Waste Management, including T. Rowe Price, which increased its stake by 1.2%.
• Analysts have upgraded Waste Management, with HSBC raising its rating from "hold" to "buy" and increasing the price target from $210 to $265.

Gulf International Bank UK Ltd lowered its position in Waste Management, Inc. (NYSE:WM - Free Report) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,567 shares of the business services provider's stock after selling 8,273 shares during the period. Gulf International Bank UK Ltd's holdings in Waste Management were worth $5,455,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Golden State Wealth Management LLC lifted 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 last quarter. Calamos Advisors LLC lifted 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 last quarter. Wealth Enhancement Advisory Services LLC lifted 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 last quarter. Finally, GAMMA Investing LLC lifted 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 last quarter. Institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on WM. Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research report on Thursday, June 26th. Melius initiated coverage on shares of Waste Management in a research report on Monday, June 9th. They issued a "buy" rating for the company. CIBC upped their target price on Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Finally, HSBC raised Waste Management from a "hold" rating to a "buy" rating and raised their target price for the company from $210.00 to $265.00 in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Trading Up 0.3%

NYSE WM traded up $0.65 on Friday, hitting $226.80. The company's stock had a trading volume of 3,371,175 shares, compared to its average volume of 1,727,353. 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 1-year low of $199.69 and a 1-year high of $242.58. The firm has a market cap of $91.36 billion, a PE ratio of 33.65, a PEG ratio of 2.82 and a beta of 0.64. The company's 50-day moving average is $230.19 and its 200 day moving average is $229.41.

Waste Management (NYSE:WM - Get Free Report) last issued 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 net margin of 11.36% and a return on equity of 34.37%. The business had revenue of $6.43 billion for the quarter, compared to analysts' expectations of $6.37 billion. During the same quarter in the prior year, the firm posted $1.82 earnings per share. The business's quarterly revenue was up 19.0% compared to the same quarter last year. As a group, analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Waste Management

In other news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the transaction, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% 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.