Carmignac Gestion Sells 30,092 Shares of Waste Management, Inc. $WM

Key Points

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Carmignac Gestion cut its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 51.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,164 shares of the business services provider's stock after selling 30,092 shares during the period. Carmignac Gestion's holdings in Waste Management were worth $6,520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in WM. Westend Capital Management LLC lifted its position in Waste Management by 126.9% during the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider's stock valued at $27,000 after purchasing an additional 66 shares during the period. Transce3nd LLC acquired a new position in Waste Management during the 4th quarter valued at about $28,000. West Branch Capital LLC lifted its position 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 valued at $28,000 after purchasing an additional 49 shares during the period. GKV Capital Management Co. Inc. acquired a new position in Waste Management during the 1st quarter valued at about $38,000. Finally, Adalta Capital Management LLC acquired a new position in Waste Management during the 4th quarter valued at about $40,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WM shares. CIBC upped their target price on shares of Waste Management from $244.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Hsbc Global Res upgraded shares of Waste Management from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. National Bank Financial upgraded shares of Waste Management to a "hold" rating in a research report on Monday, May 26th. JPMorgan Chase & Co. upgraded shares of Waste Management from a "neutral" rating to an "overweight" rating and increased their price target for the company from $225.00 to $277.00 in a research report on Friday, May 23rd. Finally, William Blair reiterated an "outperform" rating on shares of Waste Management in a research report on Tuesday, July 29th. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $254.35.

Insider Activity at Waste Management

In other Waste Management news, SVP Rafael Carrasco sold 674 shares of the firm's 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 sale, the senior vice president directly owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Devina A. Rankin sold 57,888 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 83,934 shares of the company's stock, valued at $19,922,574.24. This represents a 40.82% 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 Stock Down 0.3%

WM stock traded down $0.6010 during mid-day trading on Thursday, hitting $229.4290. 958,779 shares of the company were exchanged, compared to its average volume of 1,889,573. 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 has a market cap of $92.42 billion, a P/E ratio of 34.04, a P/E/G ratio of 2.82 and a beta of 0.64. The firm's 50 day simple moving average is $229.47 and its 200 day simple moving average is $229.74. Waste Management, Inc. has a 1-year low of $199.69 and a 1-year high of $242.58.

Waste Management (NYSE:WM - Get Free Report) last announced its earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $1.82 EPS. Waste Management has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current fiscal 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.