Tocqueville Asset Management L.P. Has $22.94 Million Stake in Waste Management, Inc. $WM

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Waste Management, Inc. by 6.0%, holding 99,076 shares worth approximately $22.9 million after selling 6,350 shares in the first quarter.
• Waste Management reported a 19% year-over-year revenue increase to $6.43 billion, with earnings per share (EPS) of $1.92, exceeding estimates.
• Analysts have a consensus price target of $254.35 for Waste Management shares, with ratings ranging from hold to strong buy across various research firms.

Tocqueville Asset Management L.P. lowered its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,076 shares of the business services provider's stock after selling 6,350 shares during the period. Tocqueville Asset Management L.P.'s holdings in Waste Management were worth $22,937,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in 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 worth $25,193,000 after buying an additional 15,974 shares during the period. CreativeOne Wealth LLC lifted its position in shares of Waste Management by 99.9% during the fourth quarter. CreativeOne Wealth LLC now owns 3,226 shares of the business services provider's stock worth $651,000 after purchasing an additional 1,612 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Waste Management during the fourth quarter worth $268,000. Finally, NewEdge Advisors LLC raised its holdings in Waste Management by 14.4% in the fourth quarter. NewEdge Advisors LLC now owns 49,923 shares of the business services provider's stock valued at $10,074,000 after acquiring an additional 6,292 shares in the last quarter. Institutional investors and hedge funds own 80.40% of the company's stock.

Insider Activity at Waste Management

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the firm's 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 sale, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $159,609.94. Following the completion of the sale, the senior vice president 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 disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Waste Management Price Performance

NYSE:WM traded down $1.0530 during mid-day trading on Thursday, reaching $228.9770. 339,579 shares of the company were exchanged, compared to its average volume of 1,728,919. Waste Management, Inc. has a 12 month low of $199.69 and a 12 month high of $242.58. The company has a fifty day moving average of $229.61 and a 200 day moving average of $229.70. 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 stock has a market cap of $92.24 billion, a PE ratio of 33.99, a PEG ratio of 2.80 and a beta of 0.64.

Waste Management (NYSE:WM - Get Free Report) last released its 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. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company posted $1.82 EPS. The company's revenue was up 19.0% compared to the same quarter last year. Waste Management has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on WM shares. BMO Capital Markets increased their target price on shares of Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. UBS Group raised their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. HSBC raised shares of Waste Management from a "hold" rating to a "buy" rating and increased their price target for the stock from $210.00 to $265.00 in a research report on Friday, April 25th. Scotiabank raised their price objective on shares of Waste Management from $265.00 to $275.00 and gave the company a "sector outperform" rating in a research report on Thursday, July 31st. Finally, William Blair reissued an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Two equities research 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.35.

About Waste Management

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.