Holderness Investments Co. Has $505,000 Holdings in Waste Management, Inc. (NYSE:WM)

Holderness Investments Co. increased its holdings in Waste Management, Inc. (NYSE:WM) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,181 shares of the business services provider’s stock after acquiring an additional 65 shares during the period. Holderness Investments Co.’s holdings in Waste Management were worth $505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC raised its holdings in shares of Waste Management by 126.9% in the 1st quarter. Westend Capital Management LLC now owns 118 shares of the business services provider’s stock worth $27,000 after acquiring an additional 66 shares during the last quarter. Transce3nd LLC purchased a new stake in Waste Management in the 4th quarter valued at about $28,000. West Branch Capital LLC increased its stake in Waste Management by 69.0% in the 1st quarter. West Branch Capital LLC now owns 120 shares of the business services provider’s stock valued at $28,000 after buying an additional 49 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in Waste Management in the 1st quarter valued at about $38,000. Finally, Adalta Capital Management LLC purchased a new stake in Waste Management in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Stock Performance

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

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

Analysts Set New Price Targets

Several research firms have commented on WM. Wall Street Zen upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Citigroup increased their price objective on shares of Waste Management from $260.00 to $271.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. National Bank Financial upgraded shares of Waste Management to a “hold” rating in a research note on Monday, May 26th. Hsbc Global Res upgraded shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Melius Research raised shares of Waste Management to a “strong-buy” rating and set a $263.00 target price for the company in a research report on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.35.

Insider Buying and Selling at Waste Management

In other news, 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 sale, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $13,740,295.68. Following the sale, the chief financial officer owned 83,934 shares in the company, valued at approximately $19,922,574.24. This trade represents a 40.82% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Waste Management Company Profile

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.