Northwest & Ethical Investments L.P. Has $51.52 Million Holdings in Waste Management, Inc. (NYSE:WM)

Key Points

• Northwest & Ethical Investments L.P. has reduced its stake in Waste Management, Inc. by 1.6% during the first quarter, holding 222,550 shares worth approximately $51.52 million.
• The company reported $1.92 earnings per share (EPS) for the quarter, exceeding analyst expectations, with revenues up 19% compared to the previous year.
• Institutional investors hold 80.40% of Waste Management's stock, indicating strong confidence and involvement in the company’s equity.

Northwest & Ethical Investments L.P. reduced its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,550 shares of the business services provider's stock after selling 3,516 shares during the quarter. Waste Management makes up about 1.4% of Northwest & Ethical Investments L.P.'s holdings, making the stock its 6th biggest holding. Northwest & Ethical Investments L.P. owned about 0.06% of Waste Management worth $51,523,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Westend Capital Management LLC increased its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after purchasing an additional 66 shares during the period. Transce3nd LLC purchased a new position in Waste Management during the 4th quarter valued at $28,000. West Branch Capital LLC increased its position in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after purchasing an additional 49 shares during the period. GKV Capital Management Co. Inc. purchased a new position in Waste Management during the 1st quarter valued at $38,000. Finally, Adalta Capital Management LLC purchased a new position in Waste Management during the 4th quarter valued at $40,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Up 0.3%

Waste Management stock opened at $226.80 on Friday. The firm has a 50 day moving average of $230.00 and a 200 day moving average of $229.63. The firm has a market capitalization 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, Inc. has a 12-month low of $199.69 and a 12-month high of $242.58. 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 (NYSE:WM - Get Free Report) last released its earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping 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 company 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 EPS. The firm's quarterly revenue was up 19.0% compared to the same quarter last year. As a group, research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group upped their target price on shares of Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Seaport Res Ptn raised shares of Waste Management to a "hold" rating in a research report on Tuesday, May 6th. Melius started coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. CIBC upped their price target 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. Finally, Wall Street Zen upgraded shares of Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Insider Activity at Waste Management

In other news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction that occurred on 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 sale, the chief financial officer owned 83,934 shares in the company, valued at $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction that occurred on Tuesday, May 27th. The shares were 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. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Company 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.

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