Quantbot Technologies LP Purchases New Shares in Waste Management, Inc. $WM

Key Points

• Quantbot Technologies LP acquired 12,366 shares of Waste Management, Inc. for approximately $2.86 million, marking a significant new investment during the first quarter.
• Analyst ratings for Waste Management have improved recently, with HSBC upgrading the stock to a buy and increasing the target price from $210 to $265.
• Waste Management reported strong quarterly earnings, beating estimates with an EPS of $1.92 and a revenue increase of 19% year-over-year.

Quantbot Technologies LP purchased a new stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,366 shares of the business services provider's stock, valued at approximately $2,863,000.

Several other hedge funds also recently made changes to their positions in WM. Brighton Jones LLC boosted its position in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Waste Management by 14.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 124,848 shares of the business services provider's stock valued at $25,193,000 after purchasing an additional 15,974 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $268,000. MML Investors Services LLC boosted its position in shares of Waste Management by 5.0% during the fourth quarter. MML Investors Services LLC now owns 77,767 shares of the business services provider's stock valued at $15,693,000 after purchasing an additional 3,701 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in Waste Management in the fourth quarter worth $28,000. 80.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on WM. HSBC raised Waste Management from a "hold" rating to a "buy" rating and boosted their target price for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Scotiabank boosted their target price on Waste Management from $265.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Thursday, July 31st. Melius began coverage on Waste Management in a report on Monday, June 9th. They issued a "buy" rating on the stock. UBS Group boosted their target price on Waste Management from $260.00 to $265.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised Waste Management from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Waste Management Trading Up 0.7%

Shares of NYSE:WM opened at $229.9820 on Thursday. The company has a market cap of $92.64 billion, a P/E ratio of 34.12, a PEG ratio of 2.80 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The stock's fifty day moving average price is $229.61 and its 200-day moving average price is $229.70.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The company's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Sell-side analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Devina A. Rankin sold 57,888 shares of the company's stock in a transaction on 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 completion of the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the sale, the senior vice president owned 16,542 shares of the company's stock, 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 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.

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.