Banque Pictet & Cie SA Has $377.18 Million Holdings in Waste Management, Inc. (NYSE:WM)

Banque Pictet & Cie SA boosted its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,869,190 shares of the business services provider’s stock after buying an additional 11,940 shares during the quarter. Waste Management comprises 2.5% of Banque Pictet & Cie SA’s holdings, making the stock its 10th largest holding. Banque Pictet & Cie SA’s holdings in Waste Management were worth $377,184,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WM. Inspire Investing LLC boosted its holdings in 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 last quarter. Exchange Traded Concepts LLC boosted its stake in Waste Management by 14.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,003 shares of the business services provider’s stock worth $1,039,000 after acquiring an additional 619 shares during the last quarter. NBC Securities Inc. grew its holdings in Waste Management by 3.1% during the third quarter. NBC Securities Inc. now owns 4,086 shares of the business services provider’s stock valued at $848,000 after purchasing an additional 122 shares during the period. Swedbank AB increased its stake in Waste Management by 67.2% in the third quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock valued at $366,537,000 after purchasing an additional 709,678 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Waste Management by 7.7% in 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 purchasing an additional 4,703 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of WM opened at $227.58 on Friday. The company has a market cap of $91.34 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The firm has a 50-day moving average of $211.93 and a 200-day moving average of $211.85. Waste Management, Inc. has a one year low of $195.97 and a one year high of $230.39. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.89 and a quick ratio of 0.85.

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

Insider Buying and Selling

In related news, CFO Devina A. Rankin sold 5,826 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $222.12, for a total transaction of $1,294,071.12. Following the completion of the sale, the chief financial officer now owns 69,442 shares of the company’s stock, valued at $15,424,457.04. This represents a 7.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Rafael Carrasco sold 4,000 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the sale, the senior vice president now owns 18,531 shares of the company’s stock, valued at approximately $4,185,967.59. This represents a 17.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,055 shares of company stock valued at $3,578,340. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on WM shares. Scotiabank raised their price objective on Waste Management from $250.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Oppenheimer lifted their price objective on Waste Management from $231.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. CIBC increased their target price on Waste Management from $228.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial upped their price target on shares of Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Argus upped their target price on shares of Waste Management from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and an average target price of $234.50.

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.