Knuff & Co LLC Boosts Holdings in Waste Management, Inc. (NYSE:WM)

Key Points

• Knuff & Co LLC increased its holdings in Waste Management, Inc. by 116.3% during Q1, now owning 2,163 shares valued at $501,000.
• The company's recent quarterly earnings reported an EPS of $1.92, beating analyst estimates and showing a 19.0% year-over-year revenue growth.
• Institutional investors now own 80.40% of Waste Management's stock, indicating strong institutional interest in the company.

Knuff & Co LLC boosted its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 116.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,163 shares of the business services provider's stock after acquiring an additional 1,163 shares during the period. Knuff & Co LLC's holdings in Waste Management were worth $501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in Waste Management by 5.8% during the fourth quarter. Ameriprise Financial Inc. now owns 4,076,447 shares of the business services provider's stock valued at $822,588,000 after purchasing an additional 224,279 shares during the last quarter. Northern Trust Corp lifted its position in Waste Management by 13.2% during the fourth quarter. Northern Trust Corp now owns 3,996,773 shares of the business services provider's stock valued at $806,509,000 after purchasing an additional 465,789 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Waste Management by 7.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,633,710 shares of the business services provider's stock valued at $531,456,000 after purchasing an additional 177,398 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Waste Management by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,462,903 shares of the business services provider's stock valued at $570,108,000 after purchasing an additional 36,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Waste Management by 1.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,181,924 shares of the business services provider's stock valued at $505,137,000 after purchasing an additional 29,715 shares during the last quarter. Institutional investors own 80.40% of the company's stock.

Insider Activity

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 transaction of $13,740,295.68. Following the transaction, the chief financial officer owned 83,934 shares in the company, valued at $19,922,574.24. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the company's 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 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. Corporate insiders own 0.18% of the company's stock.

Waste Management Stock Performance

WM stock opened at $226.80 on Friday. The firm has a market cap of $91.36 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.77 and a beta of 0.64. The firm has a 50-day simple moving average of $230.00 and a two-hundred day simple moving average of $229.50. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86.

Waste Management (NYSE:WM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $6.37 billion. During the same period in the prior year, the firm posted $1.82 earnings per share. The company's quarterly revenue was up 19.0% on a year-over-year basis. On average, equities analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

WM has been the subject of several research reports. Robert W. Baird increased their price objective 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. CIBC lifted their price objective on shares of Waste Management from $244.00 to $250.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. National Bank Financial raised shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Finally, William Blair reissued an "outperform" rating on shares of Waste Management in a research note on Tuesday, July 29th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Waste Management currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

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.

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