Steward Partners Investment Advisory LLC Increases Holdings in Waste Management, Inc. $WM

Key Points

• Steward Partners Investment Advisory LLC increased its holdings in Waste Management, Inc. by 3.7%, acquiring an additional 1,287 shares, bringing their total ownership to 35,679 shares valued at approximately $8.26 million.
• Waste Management reported quarterly earnings of $1.92 per share, exceeding analyst estimates, with revenues of $6.43 billion, marking a year-over-year increase of 19%.
• Institutional investors hold a significant stake in Waste Management, representing 80.40% of the company's stock, reflecting strong institutional interest and ownership in the company.

Steward Partners Investment Advisory LLC raised its position in Waste Management, Inc. (NYSE:WM - Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,679 shares of the business services provider's stock after buying an additional 1,287 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Waste Management were worth $8,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WM. Brighton Jones LLC grew its holdings in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after buying an additional 2,320 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of 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 worth $25,193,000 after buying an additional 15,974 shares during the last quarter. XTX Topco Ltd bought a new position in Waste Management in the fourth quarter valued at about $268,000. Ossiam raised its position in Waste Management by 3.9% in the fourth quarter. Ossiam now owns 8,951 shares of the business services provider's stock valued at $1,806,000 after purchasing an additional 340 shares during the last quarter. Finally, Natixis raised its position in Waste Management by 59.5% in the fourth quarter. Natixis now owns 17,868 shares of the business services provider's stock valued at $3,606,000 after purchasing an additional 6,662 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction dated 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 of the company's stock, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $159,609.94. Following the sale, the senior vice president directly 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. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WM shares. Scotiabank increased their price target on Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. Melius started coverage on Waste Management in a research note on Monday, June 9th. They issued a "buy" rating for the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 price target on shares of Waste Management in a research note on Thursday, June 26th. CIBC increased their price target on Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen raised Waste Management from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $254.35.

Waste Management Stock Performance

Waste Management stock traded down $0.6010 during mid-day trading on Thursday, reaching $229.4290. 958,779 shares of the company's stock were exchanged, compared to its average volume of 1,889,573. 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 business's fifty day simple moving average is $229.47 and its 200 day simple moving average is $229.74. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The firm has a market capitalization of $92.42 billion, a PE ratio of 34.04, a P/E/G ratio of 2.82 and a beta of 0.64.

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 for the quarter, beating the consensus estimate of $1.89 by $0.03. The company had revenue of $6.43 billion during the quarter, compared to analysts' expectations of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.The firm's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current 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.