Holderness Investments Co. Raises Position in Waste Management, Inc. (NYSE:WM)

Holderness Investments Co. increased its holdings in Waste Management, Inc. (NYSE:WM) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,181 shares of the business services provider’s stock after purchasing an additional 65 shares during the quarter. Holderness Investments Co.’s holdings in Waste Management were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC raised its position in Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after purchasing an additional 66 shares during the period. Transce3nd LLC bought a new stake in Waste Management in the 4th quarter worth $28,000. West Branch Capital LLC grew its holdings in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock worth $28,000 after acquiring an additional 49 shares during the last quarter. GKV Capital Management Co. Inc. bought a new stake in Waste Management in the 1st quarter worth $38,000. Finally, Adalta Capital Management LLC bought a new stake in Waste Management in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Trading Down 1.4%

NYSE:WM opened at $229.80 on Thursday. Waste Management, Inc. has a one year low of $199.69 and a one year high of $242.58. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. The company’s 50-day simple moving average is $230.44 and its 200 day simple moving average is $229.32. The firm has a market capitalization of $92.57 billion, a P/E ratio of 34.09, a PEG ratio of 2.86 and a beta of 0.64.

Waste Management (NYSE:WM) last posted its quarterly earnings data 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. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Waste Management’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, analysts forecast that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. BMO Capital Markets raised their price target on shares of Waste Management from $245.00 to $248.00 and gave the stock a “market perform” rating in a report on Wednesday, July 30th. Seaport Res Ptn raised shares of Waste Management to a “hold” rating in a report on Tuesday, May 6th. CIBC raised their price target on shares of Waste Management from $244.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Finally, HSBC raised shares of Waste Management from a “hold” rating to a “buy” rating and raised their price target for the stock from $210.00 to $265.00 in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.35.

Insider Activity

In related news, SVP Rafael Carrasco sold 674 shares of the business’s stock in a transaction dated 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 owned 16,542 shares of the company’s stock, valued at $3,917,311.02. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Devina A. Rankin sold 57,888 shares of Waste Management 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 completion of the transaction, the chief financial officer directly owned 83,934 shares of the company’s stock, valued at $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.