Waste Management, Inc. (NYSE:WM) Stock Position Trimmed by Kimelman & Baird LLC

Key Points

• Kimelman & Baird LLC reduced its holdings in Waste Management, Inc. by 1.2%, now owning 210,242 shares valued at approximately $48.67 million.
• Waste Management's quarterly revenue exceeded expectations at $6.43 billion, with an EPS of $1.92, beating estimates by $0.03.
• Several analysts upgraded Waste Management's rating recently, with JPMorgan Chase raising the price target to $277.00, reflecting a positive outlook for the stock.

Kimelman & Baird LLC cut its position in Waste Management, Inc. (NYSE:WM - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,242 shares of the business services provider's stock after selling 2,615 shares during the quarter. Waste Management comprises about 4.1% of Kimelman & Baird LLC's holdings, making the stock its 6th largest position. Kimelman & Baird LLC owned about 0.05% of Waste Management worth $48,673,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Bank Pictet & Cie Europe AG raised its stake 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 valued at $25,193,000 after purchasing an additional 15,974 shares during the period. CreativeOne Wealth LLC raised its stake in shares of Waste Management by 99.9% during the 4th quarter. CreativeOne Wealth LLC now owns 3,226 shares of the business services provider's stock valued at $651,000 after purchasing an additional 1,612 shares during the period. XTX Topco Ltd bought a new stake in shares of Waste Management during the 4th quarter valued at $268,000. Finally, NewEdge Advisors LLC increased its stake in Waste Management by 14.4% in the 4th quarter. NewEdge Advisors LLC now owns 49,923 shares of the business services provider's stock worth $10,074,000 after acquiring an additional 6,292 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

NYSE WM opened at $225.95 on Friday. The company has a market capitalization of $91.02 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. 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 business's fifty day moving average is $230.19 and its 200 day moving average is $229.41. Waste Management, Inc. has a fifty-two week low of $199.69 and a fifty-two week high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 EPS 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 business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The business's revenue was up 19.0% on a year-over-year basis. Sell-side analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Waste Management from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. BMO Capital Markets upped their price objective on Waste Management from $245.00 to $248.00 and gave the stock a "market perform" rating in a report on Wednesday, July 30th. Melius Research upgraded Waste Management to a "strong-buy" rating and set a $263.00 target price for the company in a report on Monday, June 9th. National Bank Financial upgraded Waste Management to a "hold" rating in a report on Monday, May 26th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $229.00 target price on shares of Waste Management in a report on Thursday, June 26th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Insider Activity

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $236.81, for a total transaction of $159,609.94. Following the sale, the senior vice president directly owned 16,542 shares of the company's stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the company'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 value of $13,740,295.68. Following the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at approximately $19,922,574.24. This represents a 40.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Waste Management Company 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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