Tokio Marine Asset Management Co. Ltd. Increases Stake in Waste Management, Inc. (NYSE:WM)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 6.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 11,980 shares of the business services provider’s stock after purchasing an additional 737 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Waste Management were worth $2,773,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WM. Brighton Jones LLC lifted its stake 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 valued at $1,384,000 after acquiring an additional 2,320 shares during the period. Golden State Wealth Management LLC lifted its stake in Waste Management by 41.7% during the 1st quarter. Golden State Wealth Management LLC now owns 789 shares of the business services provider’s stock valued at $183,000 after acquiring an additional 232 shares during the period. Calamos Advisors LLC boosted its holdings in shares of Waste Management by 2.8% in the first quarter. Calamos Advisors LLC now owns 283,500 shares of the business services provider’s stock worth $65,633,000 after buying an additional 7,751 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Waste Management by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 592,229 shares of the business services provider’s stock worth $137,108,000 after buying an additional 24,023 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Waste Management by 13.1% in the first quarter. GAMMA Investing LLC now owns 8,247 shares of the business services provider’s stock worth $1,909,000 after buying an additional 958 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Waste Management

In related news, CFO Devina A. Rankin sold 57,888 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value 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 approximately $19,922,574.24. This trade represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rafael Carrasco sold 674 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total transaction of $159,609.94. Following the completion of the transaction, the senior vice president directly owned 16,542 shares of the company’s stock, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Waste Management Trading Down 1.4%

Waste Management stock opened at $229.80 on Thursday. The stock has a market cap of $92.57 billion, a P/E ratio of 34.09, a PEG ratio of 2.86 and a beta of 0.64. The company has a debt-to-equity ratio of 2.51, a current ratio of 0.86 and a quick ratio of 0.82. Waste Management, Inc. has a 1 year low of $199.69 and a 1 year high of $242.58. The firm’s 50 day moving average price is $230.44 and its 200-day moving average price is $229.32.

Waste Management (NYSE:WM) last released its quarterly earnings data on Monday, July 28th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.03. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Waste Management had a net margin of 11.36% and a return on equity of 34.37%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 earnings per share. On average, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WM. CIBC raised their price objective 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. Melius began coverage on shares of Waste Management in a report on Monday, June 9th. They issued a “buy” rating on the stock. Raymond James Financial raised their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised shares of Waste Management from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $225.00 to $277.00 in a report on Friday, May 23rd. Finally, Melius Research raised shares of Waste Management to a “strong-buy” rating and set a $263.00 price objective on the stock in a report on Monday, June 9th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.35.

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.