ING Groep NV Reduces Stock Holdings in Waste Management, Inc. $WM

ING Groep NV cut its holdings in Waste Management, Inc. (NYSE:WM) by 29.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,435 shares of the business services provider’s stock after selling 32,174 shares during the quarter. ING Groep NV’s holdings in Waste Management were worth $17,100,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its position in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new stake in shares of Waste Management in the first quarter worth $325,000. Verdence Capital Advisors LLC raised its holdings in shares of Waste Management by 26.5% during the second quarter. Verdence Capital Advisors LLC now owns 3,964 shares of the business services provider’s stock worth $907,000 after purchasing an additional 830 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in Waste Management by 3.9% during the second quarter. Axxcess Wealth Management LLC now owns 13,397 shares of the business services provider’s stock valued at $3,066,000 after purchasing an additional 497 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Waste Management by 2.9% in the second quarter. TD Asset Management Inc now owns 279,616 shares of the business services provider’s stock valued at $63,982,000 after purchasing an additional 7,784 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Up 1.1%

Shares of WM stock opened at $234.36 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.80 and a debt-to-equity ratio of 2.22. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58. The company’s 50-day moving average price is $221.19 and its 200-day moving average price is $219.26. The stock has a market cap of $94.53 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 2.45 and a beta of 0.58.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.39 billion. During the same period last year, the firm earned $1.70 earnings per share. Waste Management’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO James C. Fish, Jr. sold 30,390 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $230.36, for a total transaction of $7,000,640.40. Following the completion of the sale, the chief executive officer directly owned 225,793 shares of the company’s stock, valued at approximately $52,013,675.48. This trade represents a 11.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rafael Carrasco sold 1,380 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80. Following the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 43,559 shares of company stock valued at $9,959,299 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of several recent research reports. Truist Financial set a $260.00 price target on Waste Management in a research report on Wednesday, October 29th. Morgan Stanley cut their target price on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Robert W. Baird raised shares of Waste Management from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. DZ Bank began coverage on Waste Management in a research note on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price target for the company. Finally, Scotiabank reiterated a “sector perform” rating and set a $250.00 price target (down previously from $254.00) on shares of Waste Management in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.55.

Waste Management News Roundup

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Analysts remain broadly positive on WM: several firms have raised price targets and maintained buy/outperform views, and the consensus price target sits well above the current share price — supporting demand for the stock. Waste Management Stock: Analyst Estimates & Ratings
• Neutral Sentiment: Local PR: Waste Management’s recycling work at the WM Phoenix Open (900+ tons diverted annually) is positive for brand and ESG positioning but unlikely to move near-term earnings or the stock materially. WM Phoenix Open recycles more than 900 tons of trash each year
• Neutral Sentiment: Broader market/sector headlines are active (e.g., energy/midstream stories) and can influence flows, but they do not directly change WM’s waste-management fundamentals. Williams Companies Stock Climbs as Investors Focus on Gas Demand
• Negative Sentiment: Insider selling: CEO James Fish, Jr. disclosed multiple open-market sales this week (657; 5,706; and 30,390 shares on Feb. 6, 10 and 9 respectively), totaling 36,753 shares for roughly $8.47M at ~ $230 per share and materially reducing his stake in the largest filing. While insiders sell for many reasons (diversification, taxes), the concentrated, recent selling is a negative signal that some investors may view as profit-taking or a near-term caution. SEC filing: SEC Filing – Insider Sales

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.