Waste Management, Inc. $WM Shares Acquired by Partners Group Holding AG

Key Points

• Partners Group Holding AG increased its stake in Waste Management, Inc. by 3.9%, now holding 186,350 shares valued at approximately $43.14 million, making it the firm’s 16th largest holding.
• Other institutional investors have also significantly increased their stakes, with GAMMA Investing LLC raising its position by a staggering 26,095.2% to own nearly 1.91 million shares valued at around $442 million.
• Waste Management recently reported earnings of $1.92 EPS, surpassing estimates, with quarterly revenue of $6.43 billion, reflecting a 19% increase year-over-year.

Partners Group Holding AG grew its position in Waste Management, Inc. (NYSE:WM - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,350 shares of the business services provider's stock after purchasing an additional 6,989 shares during the period. Waste Management comprises about 1.8% of Partners Group Holding AG's portfolio, making the stock its 16th largest position. Partners Group Holding AG's holdings in Waste Management were worth $43,142,000 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. T. Rowe Price Investment Management Inc. increased its holdings in shares of Waste Management by 1.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,866 shares of the business services provider's stock valued at $781,000 after acquiring an additional 44 shares in the last quarter. Ascent Group LLC increased its holdings in shares of Waste Management by 0.6% during the fourth quarter. Ascent Group LLC now owns 7,534 shares of the business services provider's stock valued at $1,520,000 after acquiring an additional 44 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of Waste Management by 0.4% during the first quarter. Insight Wealth Strategies LLC now owns 11,655 shares of the business services provider's stock valued at $2,698,000 after acquiring an additional 44 shares in the last quarter. Stonebridge Financial Group LLC increased its holdings in shares of Waste Management by 3.0% during the first quarter. Stonebridge Financial Group LLC now owns 1,533 shares of the business services provider's stock valued at $355,000 after acquiring an additional 45 shares in the last quarter. Finally, Formidable Asset Management LLC increased its holdings in Waste Management by 2.0% in the 1st quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock worth $536,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.40% of the company's stock.

Insider Buying and Selling at Waste Management

In related news, SVP Rafael Carrasco sold 674 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president directly owned 16,542 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, CFO Devina A. Rankin sold 57,888 shares of the stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WM has been the topic of several research reports. Seaport Res Ptn upgraded shares of Waste Management to a "hold" rating in a report on Tuesday, May 6th. Melius initiated coverage on shares of Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a report on Monday, May 26th. HSBC upgraded shares of Waste Management from a "hold" rating to a "buy" rating and increased their price target for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Finally, UBS Group upped their price objective on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Price Performance

Shares of NYSE:WM traded down $2.52 during midday trading on Monday, reaching $224.29. 3,443,761 shares of the company's stock traded hands, compared to its average volume of 1,726,726. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The company has a market cap of $90.35 billion, a P/E ratio of 33.28, a PEG ratio of 2.78 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a quick ratio of 0.82 and a current ratio of 0.86. The company has a fifty day simple moving average of $229.81 and a two-hundred day simple moving average of $229.71.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 34.37% and a net margin of 11.36%. The firm had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company earned $1.82 EPS. The firm's revenue was up 19.0% compared to the same quarter last year. Equities analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

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.