Varma Mutual Pension Insurance Co Purchases 6,300 Shares of Waste Management, Inc. $WM

Varma Mutual Pension Insurance Co increased its position in shares of Waste Management, Inc. (NYSE:WM) by 8.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,950 shares of the business services provider’s stock after buying an additional 6,300 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Waste Management were worth $17,214,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WM. Savvy Advisors Inc. lifted its position in shares of Waste Management by 11.6% in the third quarter. Savvy Advisors Inc. now owns 7,619 shares of the business services provider’s stock worth $1,682,000 after purchasing an additional 791 shares in the last quarter. Cibc World Market Inc. lifted its position in Waste Management by 4.1% during the 3rd quarter. Cibc World Market Inc. now owns 210,052 shares of the business services provider’s stock worth $46,386,000 after buying an additional 8,332 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Waste Management during the 3rd quarter worth about $2,009,000. Impax Asset Management Group plc boosted its position in Waste Management by 0.4% during the third quarter. Impax Asset Management Group plc now owns 1,117,078 shares of the business services provider’s stock valued at $246,684,000 after purchasing an additional 4,557 shares during the last quarter. Finally, Krilogy Financial LLC bought a new position in Waste Management in the third quarter valued at approximately $2,362,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

WM opened at $231.18 on Friday. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.80. The business has a fifty day simple moving average of $221.53 and a 200 day simple moving average of $219.34. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The company has a market capitalization of $93.24 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.48 and a beta of 0.58.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. During the same period in the previous year, the firm posted $1.70 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current year.

Insider Buying and Selling

In related news, SVP Rafael Carrasco sold 690 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $219.01, for a total value of $151,116.90. Following the completion of the sale, the senior vice president directly owned 22,892 shares in the company, valued at approximately $5,013,576.92. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 5,706 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $230.87, for a total value of $1,317,344.22. Following the sale, the chief executive officer directly owned 220,087 shares in the company, valued at $50,811,485.69. This represents a 2.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,580 shares of company stock valued at $10,198,938 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Cowen increased their price objective on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, January 30th. Morgan Stanley decreased their price objective on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Truist Financial set a $260.00 target price on shares of Waste Management in a report on Wednesday, October 29th. Canadian Imperial Bank of Commerce lowered their price target on Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus raised their price objective on Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $253.55.

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.