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Rathbones Group PLC Sells 2,039 Shares of Waste Management, Inc. (NYSE:WM)

Waste Management logo with Business Services background

Key Points

  • Rathbones Group PLC reduced its stake in Waste Management, Inc. by 0.5%, owning 389,186 shares valued at approximately $90.1 million after selling 2,039 shares.
  • Institutional investors collectively own 80.40% of Waste Management stock, with notable increases in holdings from firms like Ameriprise Financial and Northern Trust Corp during the last quarter.
  • Waste Management reported a 19% increase in revenue year-over-year, with earnings per share of $1.92, exceeding analyst expectations for the quarter.
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Rathbones Group PLC cut its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 389,186 shares of the business services provider's stock after selling 2,039 shares during the quarter. Rathbones Group PLC owned 0.10% of Waste Management worth $90,100,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its position in 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 worth $781,000 after buying an additional 44 shares during the last quarter. Ascent Group LLC boosted its holdings in 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 during the period. Insight Wealth Strategies LLC boosted its holdings in 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 during the period. Stonebridge Financial Group LLC boosted its holdings in 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 during the period. Finally, Formidable Asset Management LLC boosted its holdings in Waste Management by 2.0% during the first quarter. Formidable Asset Management LLC now owns 2,317 shares of the business services provider's stock valued at $536,000 after acquiring an additional 45 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WM shares. UBS Group upped their price target on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a report on Wednesday, July 30th. Melius Research upgraded shares of Waste Management to a "strong-buy" rating and set a $263.00 price target for the company in a report on Monday, June 9th. Citigroup upped their price target on shares of Waste Management from $260.00 to $271.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and upped their price target for the company from $225.00 to $277.00 in a report on Friday, May 23rd. Finally, National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Check Out Our Latest Stock Analysis on Waste Management

Insider Transactions at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the firm'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 directly owned 83,934 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of Waste Management stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the sale, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Waste Management Trading Down 1.4%

NYSE WM traded down $3.18 during mid-day trading on Wednesday, reaching $229.80. 2,094,601 shares of the stock were exchanged, compared to its average volume of 1,524,508. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The stock has a 50 day simple moving average of $230.44 and a 200-day simple moving average of $229.32. The stock has a market cap of $92.57 billion, a P/E ratio of 34.09, a P/E/G ratio of 2.86 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 (NYSE:WM - Get Free Report) last posted its quarterly 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. The business had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business's quarterly revenue was up 19.0% on a year-over-year basis. During the same period last year, the company posted $1.82 earnings per share. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current year.

About Waste Management

(Free Report)

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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