Cibc World Market Inc. Has $46.39 Million Position in Waste Management, Inc. $WM

Cibc World Market Inc. raised its stake in Waste Management, Inc. (NYSE:WM) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 210,052 shares of the business services provider’s stock after buying an additional 8,332 shares during the quarter. Cibc World Market Inc. owned 0.05% of Waste Management worth $46,386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WM. Vanguard Group Inc. boosted its position in Waste Management by 0.8% during the second quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock valued at $8,617,866,000 after purchasing an additional 292,868 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Waste Management by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after buying an additional 126,329 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Waste Management by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock valued at $1,232,131,000 after buying an additional 74,528 shares in the last quarter. Norges Bank acquired a new position in Waste Management in the second quarter worth approximately $1,064,206,000. Finally, Amundi raised its position in Waste Management by 8.6% during the second quarter. Amundi now owns 3,596,281 shares of the business services provider’s stock valued at $804,809,000 after acquiring an additional 284,733 shares in the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Trading Up 1.1%

Shares of WM stock opened at $234.36 on Thursday. The firm has a market capitalization of $94.53 billion, a P/E ratio of 34.98, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58. The firm’s fifty day simple moving average is $221.19 and its 200 day simple moving average is $219.26. The company has a current ratio of 0.89, a quick ratio of 0.80 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share 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 company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. During the same period last year, the company earned $1.70 earnings per share. Waste Management’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Waste Management, Inc. will post 7.7 EPS for the current year.

Key Waste Management News

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Analysts remain broadly positive on WM: several firms have raised price targets and maintained buy/outperform views, and the consensus price target sits well above the current share price — supporting demand for the stock. Waste Management Stock: Analyst Estimates & Ratings
• Neutral Sentiment: Local PR: Waste Management’s recycling work at the WM Phoenix Open (900+ tons diverted annually) is positive for brand and ESG positioning but unlikely to move near-term earnings or the stock materially. WM Phoenix Open recycles more than 900 tons of trash each year
• Neutral Sentiment: Broader market/sector headlines are active (e.g., energy/midstream stories) and can influence flows, but they do not directly change WM’s waste-management fundamentals. Williams Companies Stock Climbs as Investors Focus on Gas Demand
• Negative Sentiment: Insider selling: CEO James Fish, Jr. disclosed multiple open-market sales this week (657; 5,706; and 30,390 shares on Feb. 6, 10 and 9 respectively), totaling 36,753 shares for roughly $8.47M at ~ $230 per share and materially reducing his stake in the largest filing. While insiders sell for many reasons (diversification, taxes), the concentrated, recent selling is a negative signal that some investors may view as profit-taking or a near-term caution. SEC filing: SEC Filing – Insider Sales

Insider Buying and Selling at Waste Management

In other news, EVP Charles C. Boettcher sold 689 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $219.32, for a total transaction of $151,111.48. Following the sale, the executive vice president directly owned 56,159 shares in the company, valued at approximately $12,316,791.88. The trade was a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James C. Fish, Jr. sold 5,706 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 220,087 shares of the company’s stock, valued at approximately $50,811,485.69. This trade represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 43,559 shares of company stock valued at $9,959,299 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

WM has been the topic of several analyst reports. Citigroup dropped their price target on shares of Waste Management from $270.00 to $263.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Wells Fargo & Company increased their target price on shares of Waste Management from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Canadian Imperial Bank of Commerce reduced their price target on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Truist Financial set a $260.00 price target on Waste Management in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada raised their price objective on Waste Management from $223.00 to $235.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.