Vestmark Advisory Solutions Inc. Purchases 3,141 Shares of Waste Management, Inc. (NYSE:WM)

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Waste Management, Inc. by 82.7%, owning 6,938 shares valued at approximately $1.6 million after purchasing an additional 3,141 shares in the 1st quarter.
• Waste Management reported quarterly earnings of $1.92 per share, exceeding expectations and showing a 19% increase in revenue compared to the previous year.
• Institutional investors now hold 80.40% of Waste Management's stock, indicating strong confidence from the investment community in the company's performance.

Vestmark Advisory Solutions Inc. lifted its position in Waste Management, Inc. (NYSE:WM - Free Report) by 82.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,938 shares of the business services provider's stock after purchasing an additional 3,141 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Waste Management were worth $1,606,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Westend Capital Management LLC increased its position in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. West Branch Capital LLC increased its position in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock valued at $28,000 after acquiring an additional 49 shares in the last quarter. Transce3nd LLC acquired a new stake in Waste Management in the 4th quarter valued at about $28,000. GKV Capital Management Co. Inc. acquired a new stake in Waste Management in the 1st quarter valued at about $38,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Waste Management in the 1st quarter valued at about $45,000. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

Shares of WM opened at $226.80 on Friday. The firm has a market cap of $91.36 billion, a P/E ratio of 33.65, a PEG ratio of 2.78 and a beta of 0.64. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. 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 firm's 50 day moving average price is $230.00 and its two-hundred day moving average price is $229.63.

Waste Management (NYSE:WM - Get Free Report) last released 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 net margin of 11.36% and a return on equity of 34.37%. The business's quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. On average, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Insider Activity at Waste Management

In other news, 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 value of $159,609.94. Following the sale, the senior vice president directly owned 16,542 shares in the company, valued at $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of 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 disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WM. William Blair restated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised shares of Waste Management from a "neutral" rating to an "overweight" rating and raised their target price for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. BMO Capital Markets raised their target price on shares of Waste Management from $245.00 to $248.00 and gave the company a "market perform" rating in a research note on Wednesday, July 30th. UBS Group raised their target price on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, Melius began coverage on shares of Waste Management in a research note on Monday, June 9th. They issued a "buy" rating on the stock. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $254.35.

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.

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