Waste Management (NYSE:WM) CEO Sells $1,317,344.22 in Stock

Waste Management, Inc. (NYSE:WM) CEO James Fish, Jr. sold 5,706 shares of Waste Management stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $230.87, for a total value of $1,317,344.22. Following the completion of the transaction, the chief executive officer owned 220,087 shares of the company’s stock, valued at approximately $50,811,485.69. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Waste Management Stock Down 1.5%

Shares of NYSE WM opened at $231.18 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a market cap of $93.24 billion, a P/E ratio of 34.50, a P/E/G ratio of 2.48 and a beta of 0.58. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58. The business has a 50-day simple moving average of $221.53 and a two-hundred day simple moving average of $219.34.

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

Institutional Investors Weigh In On Waste Management

A number of hedge funds have recently made changes to their positions in WM. Brighton Jones LLC boosted its position in Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Sprott Inc. purchased a new stake in Waste Management during the 1st quarter valued at about $325,000. Concurrent Investment Advisors LLC grew its position in Waste Management by 7.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,393 shares of the business services provider’s stock worth $6,497,000 after acquiring an additional 1,849 shares during the last quarter. CWM LLC lifted its position in Waste Management by 5.0% in the second quarter. CWM LLC now owns 110,313 shares of the business services provider’s stock valued at $25,242,000 after purchasing an additional 5,205 shares during the last quarter. Finally, LRI Investments LLC boosted its stake in shares of Waste Management by 5.1% during the second quarter. LRI Investments LLC now owns 2,073 shares of the business services provider’s stock valued at $474,000 after purchasing an additional 100 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WM shares. Robert W. Baird upgraded Waste Management from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $238.00 to $242.00 in a research report on Tuesday, November 4th. The Goldman Sachs Group initiated coverage on Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 price target on the stock. Canadian Imperial Bank of Commerce cut their price objective on Waste Management from $235.00 to $231.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Wells Fargo & Company lifted their target price on shares of Waste Management from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Truist Financial set a $260.00 price target on shares of Waste Management in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock 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.