RWA Wealth Partners LLC Raises Stake in Waste Management, Inc. $WM

RWA Wealth Partners LLC lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 1,021.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 48,963 shares of the business services provider’s stock after buying an additional 44,598 shares during the period. RWA Wealth Partners LLC’s holdings in Waste Management were worth $10,812,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Waste Management in the 2nd quarter worth about $1,064,206,000. Vontobel Holding Ltd. lifted its holdings in shares of Waste Management by 444.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 2,206,026 shares of the business services provider’s stock worth $487,157,000 after acquiring an additional 1,800,728 shares during the period. Sustainable Growth Advisers LP boosted its position in shares of Waste Management by 55.5% in the second quarter. Sustainable Growth Advisers LP now owns 2,897,636 shares of the business services provider’s stock worth $663,037,000 after acquiring an additional 1,034,258 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Waste Management by 982.3% in the third quarter. Assenagon Asset Management S.A. now owns 886,164 shares of the business services provider’s stock valued at $195,692,000 after purchasing an additional 804,285 shares during the period. Finally, Vanguard Group Inc. increased its position in Waste Management by 2.1% during the third quarter. Vanguard Group Inc. now owns 38,436,462 shares of the business services provider’s stock worth $8,487,924,000 after purchasing an additional 774,255 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Price Performance

WM opened at $229.50 on Wednesday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.22. The firm has a market cap of $92.56 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.44 and a beta of 0.58. The company has a fifty day simple moving average of $224.61 and a 200 day simple moving average of $219.23.

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 return on equity of 32.45% and a net margin of 10.74%.The business had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.39 billion. During the same period in the previous year, the firm posted $1.70 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO James C. Fish, Jr. sold 5,706 shares of the business’s stock in a transaction 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 owned 220,087 shares of the company’s stock, valued at approximately $50,811,485.69. The trade was a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John A. Carroll sold 1,021 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $234.71, for a total value of $239,638.91. Following the transaction, the chief accounting officer directly owned 8,309 shares of the company’s stock, valued at $1,950,205.39. This represents a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,746 shares of company stock worth $14,470,494. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WM shares. Weiss Ratings raised shares of Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Wells Fargo & Company lifted their price objective on Waste Management from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Barclays dropped their target price on shares of Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Robert W. Baird raised shares of Waste Management from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $238.00 to $242.00 in a research report on Tuesday, November 4th. Finally, UBS Group raised shares of Waste Management from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $225.00 to $260.00 in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and a consensus target price of $253.55.

About Waste Management

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.