National Pension Service Acquires 72,857 Shares of Waste Management, Inc. (NYSE:WM)

Key Points

• National Pension Service increased its stake in Waste Management, Inc. by 9.0%, now owning approximately 0.22% of the company, valued at $205 million.
• Waste Management reported a 19.0% year-over-year increase in revenue for the latest quarter, totaling $6.43 billion, with an EPS of $1.92, surpassing analysts' estimates.
• Analysts maintain a Moderate Buy consensus rating for Waste Management, with a target price averaging $254.35, supported by research upgrades from various equity analysts.

National Pension Service lifted its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 885,849 shares of the business services provider's stock after acquiring an additional 72,857 shares during the quarter. National Pension Service owned 0.22% of Waste Management worth $205,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of WM. Westend Capital Management LLC increased its stake in shares of Waste Management by 126.9% during the first quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock worth $27,000 after buying an additional 66 shares during the period. West Branch Capital LLC lifted its holdings in Waste Management by 69.0% during the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider's stock worth $28,000 after buying an additional 49 shares during the last quarter. Transce3nd LLC purchased a new position in shares of Waste Management in the 4th quarter valued at about $28,000. GKV Capital Management Co. Inc. purchased a new stake in Waste Management during the first quarter worth approximately $38,000. Finally, New Age Alpha Advisors LLC acquired a new position in Waste Management in the first quarter valued at approximately $45,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of Waste Management stock in a transaction 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 of the company's stock, valued at approximately $19,922,574.24. The trade was a 40.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the firm's 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 owned 16,542 shares in the company, valued at $3,917,311.02. This represents a 3.91% 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 insiders.

Waste Management Stock Performance

WM stock traded up $0.65 during midday trading on Friday, hitting $226.80. 3,371,175 shares of the company traded hands, compared to its average volume of 1,657,967. Waste Management, Inc. has a twelve month low of $199.69 and a twelve month high of $242.58. The stock has a market capitalization of $91.36 billion, a price-to-earnings ratio of 33.65, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. 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 has a 50 day simple moving average of $230.00 and a 200-day simple moving average of $229.50.

Waste Management (NYSE:WM - Get Free Report) last announced its 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. 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 quarter in the prior year, the company earned $1.82 EPS. The firm's revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities research analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Waste Management from $235.00 to $245.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research note on Monday, May 26th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. Seaport Res Ptn upgraded Waste Management to a "hold" rating in a research note on Tuesday, May 6th. Finally, HSBC raised Waste Management from a "hold" rating to a "buy" rating and increased their price objective for the company from $210.00 to $265.00 in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.