Berkshire Asset Management LLC PA Sells 9,133 Shares of Waste Management, Inc. $WM

Key Points

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Berkshire Asset Management LLC PA reduced its position in Waste Management, Inc. (NYSE:WM - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 236,003 shares of the business services provider's stock after selling 9,133 shares during the period. Waste Management comprises about 2.6% of Berkshire Asset Management LLC PA's holdings, making the stock its 6th largest position. Berkshire Asset Management LLC PA owned approximately 0.06% of Waste Management worth $55,234,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in Waste Management by 26,095.2% during the first quarter. GAMMA Investing LLC now owns 1,909,370 shares of the business services provider's stock valued at $442,038,000 after acquiring an additional 1,902,081 shares in the last quarter. Nuveen LLC bought a new stake in Waste Management in the first quarter worth approximately $333,089,000. Leigh Baldwin & CO. LLC acquired a new position in shares of Waste Management during the 4th quarter worth $205,506,000. Northern Trust Corp raised its holdings in shares of Waste Management by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,996,773 shares of the business services provider's stock valued at $806,509,000 after purchasing an additional 465,789 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Waste Management in the 4th quarter valued at $73,282,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Waste Management Stock Performance

NYSE WM traded down $0.6010 during trading on Thursday, hitting $229.4290. The company's stock had a trading volume of 958,779 shares, compared to its average volume of 1,889,573. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58. 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 firm has a market cap of $92.42 billion, a P/E ratio of 34.04, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. The firm has a 50 day moving average price of $229.47 and a 200 day moving average price of $229.74.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.03. The business 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%. Waste Management's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. Equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WM shares. Robert W. Baird raised their target price on Waste Management from $235.00 to $245.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. 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. Hsbc Global Res upgraded Waste Management from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Melius started coverage on Waste Management in a report on Monday, June 9th. They set a "buy" rating on the stock. Finally, Scotiabank lifted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average target price of $254.35.

Insider Transactions at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the business's stock in a transaction dated 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 in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Rafael Carrasco sold 674 shares of the firm'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 value of $159,609.94. Following the completion of the sale, the senior vice president owned 16,542 shares of the company's stock, valued at $3,917,311.02. This represents a 3.91% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

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.