NBW Capital LLC Decreases Stock Position in Waste Management, Inc. (NYSE:WM)

Key Points

• NBW Capital LLC decreased its holdings in Waste Management, Inc. by 20.8% during the first quarter, now owning 16,357 shares valued at approximately $3.79 million.
• Despite some investor sell-offs, other institutions like Citigroup Inc. and AlphaCore Capital LLC have increased their stakes in Waste Management, reflecting a general confidence in the company's performance.
• Waste Management reported a 19.0% increase in revenue year-over-year, with $6.43 billion in quarterly revenue and earnings per share of $1.92, beating analysts' expectations.

NBW Capital LLC trimmed its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,357 shares of the business services provider's stock after selling 4,304 shares during the period. NBW Capital LLC's holdings in Waste Management were worth $3,787,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WM. Brighton Jones LLC raised its position in shares of Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Waste Management by 14.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after buying an additional 15,974 shares in the last quarter. Federated Hermes Inc. increased its position in Waste Management by 11.8% during the 4th quarter. Federated Hermes Inc. now owns 70,488 shares of the business services provider's stock valued at $14,224,000 after buying an additional 7,453 shares in the last quarter. Advisory Services Network LLC increased its position in Waste Management by 18.9% during the 4th quarter. Advisory Services Network LLC now owns 26,698 shares of the business services provider's stock valued at $5,387,000 after buying an additional 4,237 shares in the last quarter. Finally, Texas Yale Capital Corp. acquired a new position in Waste Management during the 4th quarter valued at about $210,000. 80.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on WM. Raymond James Financial upped their target price on Waste Management from $255.00 to $256.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a research report on Thursday, June 26th. William Blair reaffirmed an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Hsbc Global Res raised Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Robert W. Baird upped their target price on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Waste Management presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

Waste Management Stock Performance

Shares of WM traded up $1.89 during mid-day trading on Friday, reaching $235.11. The company had a trading volume of 1,088,435 shares, compared to its average volume of 1,562,063. Waste Management, Inc. has a 52-week low of $199.69 and a 52-week 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 stock has a market capitalization of $94.71 billion, a P/E ratio of 34.88, a PEG ratio of 2.88 and a beta of 0.64. The stock has a 50 day moving average of $230.87 and a two-hundred day moving average of $228.96.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping 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 firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company's revenue was up 19.0% compared to the same quarter last year. On average, analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.825 per share. The ex-dividend date was Friday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 1.4%. Waste Management's dividend payout ratio is currently 48.96%.

Insider Buying and Selling

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Devina A. Rankin sold 57,888 shares of the 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 $19,922,574.24. This represents a 40.82% 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 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.