Martingale Asset Management L P Has $30.82 Million Stock Position in Waste Management, Inc. $WM

Martingale Asset Management L P lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 133,109 shares of the business services provider’s stock after selling 13,354 shares during the period. Waste Management accounts for 0.8% of Martingale Asset Management L P’s holdings, making the stock its 27th biggest holding. Martingale Asset Management L P’s holdings in Waste Management were worth $30,816,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WM. Sandhill Capital Partners LLC raised its position in Waste Management by 0.5% during the 1st quarter. Sandhill Capital Partners LLC now owns 27,397 shares of the business services provider’s stock worth $6,343,000 after purchasing an additional 131 shares during the last quarter. Fosun International Ltd raised its position in shares of Waste Management by 31.3% during the first quarter. Fosun International Ltd now owns 2,401 shares of the business services provider’s stock worth $556,000 after acquiring an additional 572 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Waste Management by 1.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 6,659 shares of the business services provider’s stock worth $1,542,000 after acquiring an additional 127 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Waste Management by 16,999.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 661,060 shares of the business services provider’s stock valued at $153,043,000 after acquiring an additional 657,194 shares during the last quarter. Finally, GDS Wealth Management acquired a new stake in Waste Management during the 1st quarter valued at approximately $219,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WM has been the topic of a number of analyst reports. UBS Group upped their price objective on shares of Waste Management from $260.00 to $265.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $229.00 target price on shares of Waste Management in a research note on Thursday, June 26th. JPMorgan Chase & Co. raised Waste Management from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $225.00 to $277.00 in a research note on Friday, May 23rd. Raymond James Financial raised their price objective on shares of Waste Management from $255.00 to $256.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $254.35.

Insider Activity

In other Waste Management news, CFO Devina A. Rankin sold 57,888 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $237.36, for a total value of $13,740,295.68. Following the transaction, the chief financial officer directly owned 83,934 shares in the company, valued at $19,922,574.24. The trade was a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rafael Carrasco sold 674 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $236.81, for a total value of $159,609.94. Following the completion of the transaction, the senior vice president owned 16,542 shares in the company, valued at approximately $3,917,311.02. The trade was a 3.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Waste Management stock opened at $229.9820 on Thursday. The stock has a market cap of $92.64 billion, a P/E ratio of 34.12, a P/E/G ratio of 2.80 and a beta of 0.64. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 2.51. The company’s 50 day moving average price is $229.61 and its two-hundred day moving average price is $229.70. Waste Management, Inc. has a 52 week low of $199.69 and a 52 week high of $242.58.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Monday, July 28th. The business services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.03. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.37 billion. Waste Management had a return on equity of 34.37% and a net margin of 11.36%.Waste Management’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company posted $1.82 earnings per share. Waste Management has set its FY 2025 guidance at EPS. On average, equities analysts predict that Waste Management, Inc. will post 7.7 earnings per share for the current year.

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.