Waste Management, Inc. (NYSE:WM) Shares Sold by TSP Capital Management Group LLC

TSP Capital Management Group LLC reduced its stake in Waste Management, Inc. (NYSE:WM) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,340 shares of the business services provider’s stock after selling 350 shares during the period. Waste Management accounts for about 2.9% of TSP Capital Management Group LLC’s investment portfolio, making the stock its 15th biggest holding. TSP Capital Management Group LLC’s holdings in Waste Management were worth $8,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Inspire Investing LLC boosted its position in shares of Waste Management by 10.9% during the third quarter. Inspire Investing LLC now owns 1,370 shares of the business services provider’s stock worth $284,000 after buying an additional 135 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Waste Management by 14.1% during the third quarter. Exchange Traded Concepts LLC now owns 5,003 shares of the business services provider’s stock worth $1,039,000 after buying an additional 619 shares during the period. NBC Securities Inc. boosted its position in shares of Waste Management by 3.1% during the third quarter. NBC Securities Inc. now owns 4,086 shares of the business services provider’s stock worth $848,000 after buying an additional 122 shares during the period. Swedbank AB boosted its position in shares of Waste Management by 67.2% during the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after buying an additional 709,678 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Waste Management by 7.7% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 65,567 shares of the business services provider’s stock worth $13,612,000 after buying an additional 4,703 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on WM. Truist Financial boosted their price objective on Waste Management from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on Waste Management from $227.00 to $235.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. CIBC boosted their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Stifel Nicolaus boosted their target price on Waste Management from $243.00 to $252.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Scotiabank boosted their target price on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $234.50.

Insider Activity

In other news, SVP Rafael Carrasco sold 4,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $225.89, for a total transaction of $903,560.00. Following the transaction, the senior vice president now directly owns 18,531 shares in the company, valued at $4,185,967.59. The trade was a 17.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Johnson Varkey sold 560 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $220.11, for a total transaction of $123,261.60. Following the transaction, the senior vice president now owns 9,152 shares in the company, valued at approximately $2,014,446.72. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,055 shares of company stock worth $3,578,340 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $227.58 on Friday. The company’s fifty day moving average is $211.93 and its two-hundred day moving average is $211.85. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 12-month low of $195.97 and a 12-month high of $230.39. The company has a market cap of $91.34 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a net margin of 12.45% and a return on equity of 38.88%. Equities analysts expect that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Waste Management 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.