Waste Management (NYSE:WM) CEO Sells $7,000,640.40 in Stock

Waste Management, Inc. (NYSE:WM) CEO James Fish, Jr. sold 30,390 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $230.36, for a total transaction of $7,000,640.40. Following the transaction, the chief executive officer owned 225,793 shares in the company, valued at approximately $52,013,675.48. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Waste Management Stock Down 1.5%

Waste Management stock 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 firm 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. The business has a fifty day moving average of $221.53 and a two-hundred day moving average of $219.34. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $242.58.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WM shares. Weiss Ratings raised Waste Management from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Morgan Stanley decreased their price target on Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. UBS Group upgraded Waste Management from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $225.00 to $260.00 in a research note on Friday, January 9th. Canadian Imperial Bank of Commerce cut their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Finally, Sanford C. Bernstein lifted their target price on shares of Waste Management from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.55.

Institutional Trading of Waste Management

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC grew its position in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after purchasing an additional 2,320 shares during the period. Sprott Inc. acquired a new stake in Waste Management during the first quarter worth about $325,000. Concurrent Investment Advisors LLC raised its position in Waste Management by 7.0% during the second quarter. Concurrent Investment Advisors LLC now owns 28,393 shares of the business services provider’s stock valued at $6,497,000 after acquiring an additional 1,849 shares in the last quarter. CWM LLC lifted its holdings 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 acquiring an additional 5,205 shares during the period. Finally, LRI Investments LLC boosted its position in Waste Management by 5.1% in the 2nd quarter. LRI Investments LLC now owns 2,073 shares of the business services provider’s stock worth $474,000 after purchasing an additional 100 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

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.