Connable Office Inc. Buys New Shares in Waste Management, Inc. $WM

Connable Office Inc. purchased a new position in shares of Waste Management, Inc. (NYSE:WM) in the third quarter, HoldingsChannel reports. The fund purchased 10,756 shares of the business services provider’s stock, valued at approximately $2,375,000.

A number of other hedge funds have also modified their holdings of WM. Cornerstone Planning Group LLC boosted its position in Waste Management by 101.5% in the third quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in Waste Management during the 2nd quarter valued at approximately $40,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Waste Management in the 3rd quarter valued at $41,000. Wealth Watch Advisors INC acquired a new stake in shares of Waste Management in the second quarter worth $43,000. Finally, Costello Asset Management INC purchased a new position in shares of Waste Management during the third quarter worth $49,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on WM shares. Morgan Stanley cut their price target on Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Sanford C. Bernstein raised their target price on Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. The Goldman Sachs Group started coverage on Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 price target for the company. Royal Bank Of Canada lifted their target price on shares of Waste Management from $223.00 to $235.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Finally, Truist Financial set a $260.00 price target on shares of Waste Management in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.55.

Waste Management News Summary

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 Waste Management news, CEO James C. Fish, Jr. sold 30,390 shares of Waste Management stock in a transaction on Monday, February 9th. The shares were sold at an average price of $230.36, for a total transaction of $7,000,640.40. Following the sale, the chief executive officer owned 225,793 shares of the company’s stock, valued at $52,013,675.48. The trade was a 11.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tara J. Hemmer sold 690 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $219.71, for a total transaction of $151,599.90. Following the completion of the sale, the senior vice president owned 83,736 shares of the company’s stock, valued at $18,397,636.56. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 43,559 shares of company stock valued at $9,959,299. 0.18% of the stock is owned by insiders.

Waste Management Trading Up 1.1%

Shares of NYSE:WM opened at $234.36 on Thursday. The firm has a market capitalization of $94.53 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. The business’s 50 day moving average price is $221.19 and its 200-day moving average price is $219.26. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.80. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $242.58.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.39 billion. Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.70 earnings per share. On average, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management Company 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.