Waste Management, Inc. $WM Stock Position Cut by Ecofi Investissements SA

Ecofi Investissements SA cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 15.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,750 shares of the business services provider’s stock after selling 7,050 shares during the period. Waste Management comprises approximately 8.7% of Ecofi Investissements SA’s holdings, making the stock its 4th largest position. Ecofi Investissements SA’s holdings in Waste Management were worth $8,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WM. Jump Financial LLC grew its holdings in shares of Waste Management by 472.7% in the second quarter. Jump Financial LLC now owns 135,156 shares of the business services provider’s stock worth $30,926,000 after acquiring an additional 111,556 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of Waste Management by 6.2% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,712 shares of the business services provider’s stock valued at $392,000 after purchasing an additional 100 shares during the period. Stenger Family Office LLC purchased a new stake in shares of Waste Management during the 2nd quarter valued at about $1,837,000. Avestar Capital LLC lifted its stake in shares of Waste Management by 12.1% in the 2nd quarter. Avestar Capital LLC now owns 4,805 shares of the business services provider’s stock worth $1,099,000 after purchasing an additional 518 shares during the period. Finally, StoneX Group Inc. grew its position in Waste Management by 18.3% during the second quarter. StoneX Group Inc. now owns 2,548 shares of the business services provider’s stock valued at $583,000 after buying an additional 394 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WM. JPMorgan Chase & Co. increased their price target on shares of Waste Management from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, December 1st. Citigroup raised their target price on Waste Management from $268.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. National Bankshares cut their price target on Waste Management from $250.00 to $243.00 and set a “sector perform” rating for the company in a report on Tuesday, October 7th. Cowen reaffirmed a “buy” rating on shares of Waste Management in a research note on Wednesday, October 29th. Finally, Barclays lowered their price objective on Waste Management from $271.00 to $266.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $249.14.

Waste Management Stock Down 0.3%

Shares of WM opened at $213.61 on Friday. The business’s 50 day moving average is $212.08 and its 200 day moving average is $222.70. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 2.36. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $242.58. The company has a market capitalization of $86.06 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.64 and a beta of 0.58.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.03). The company had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business earned $1.96 earnings per share. Research analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.825 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.30 annualized dividend and a yield of 1.5%. Waste Management’s payout ratio is presently 51.97%.

Insider Activity at Waste Management

In other news, SVP Rafael Carrasco sold 1,380 shares of the firm’s 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 completion of the transaction, the senior vice president owned 15,540 shares in the company, valued at $3,373,112.40. This trade represents a 8.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

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.