MainStreet Investment Advisors LLC Lowers Holdings in Waste Management, Inc. $WM

MainStreet Investment Advisors LLC lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,306 shares of the business services provider’s stock after selling 2,248 shares during the quarter. Waste Management comprises 1.5% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 21st biggest holding. MainStreet Investment Advisors LLC’s holdings in Waste Management were worth $10,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 2,320 shares during the last quarter. Sprott Inc. bought a new position in shares of Waste Management during the 1st quarter valued at about $325,000. Sage Mountain Advisors LLC grew its position in shares of Waste Management by 23.1% during the second quarter. Sage Mountain Advisors LLC now owns 3,085 shares of the business services provider’s stock valued at $706,000 after purchasing an additional 578 shares in the last quarter. MQS Management LLC bought a new stake in shares of Waste Management in the second quarter worth about $205,000. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Waste Management by 21.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,321 shares of the business services provider’s stock worth $2,819,000 after buying an additional 2,159 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Trading Down 1.4%

WM stock opened at $230.07 on Monday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58. The stock has a market capitalization of $92.80 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The firm’s fifty day simple moving average is $224.16 and its two-hundred day simple moving average is $219.29.

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

Insider Transactions at Waste Management

In other news, CAO John A. Carroll sold 1,021 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $234.71, for a total transaction of $239,638.91. Following the completion of the sale, the chief accounting officer directly owned 8,309 shares of the company’s stock, valued at approximately $1,950,205.39. The trade was a 10.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rafael Carrasco sold 7,352 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $234.50, for a total transaction of $1,724,044.00. Following the completion of the transaction, the senior vice president directly owned 15,540 shares in the company, valued at $3,644,130. This represents a 32.12% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 62,746 shares of company stock valued at $14,470,494. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of research reports. Truist Financial set a $260.00 price objective on Waste Management in a research note on Wednesday, October 29th. Wells Fargo & Company raised their target price on shares of Waste Management from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Citigroup decreased 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. Oppenheimer boosted their target price on shares of Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, DZ Bank began coverage on shares of Waste Management in a research report on Tuesday, November 25th. They set a “buy” rating and a $250.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.55.

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.