ING Groep NV Trims Stock Holdings in Waste Management, Inc. $WM

ING Groep NV decreased its holdings in Waste Management, Inc. (NYSE:WM) by 29.4% in the 3rd quarter, Holdings Channel reports. The firm owned 77,435 shares of the business services provider’s stock after selling 32,174 shares during the period. ING Groep NV’s holdings in Waste Management were worth $17,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of WM. Vanguard Group Inc. raised its holdings in shares of Waste Management by 0.8% in the second quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock valued at $8,617,866,000 after buying an additional 292,868 shares during the last quarter. Geode Capital Management LLC increased its position in Waste Management by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock valued at $1,972,856,000 after acquiring an additional 126,329 shares during the period. Ameriprise Financial Inc. raised its stake in Waste Management by 1.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock valued at $1,232,131,000 after acquiring an additional 74,528 shares during the last quarter. Norges Bank purchased a new position in shares of Waste Management in the 2nd quarter valued at approximately $1,064,206,000. Finally, Amundi increased its holdings in shares of Waste Management by 8.6% in the second quarter. Amundi now owns 3,596,281 shares of the business services provider’s stock valued at $804,809,000 after purchasing an additional 284,733 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. TD Cowen increased their price target on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Barclays reduced their target price on shares of Waste Management from $266.00 to $265.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Scotiabank reiterated a “sector perform” rating and set a $250.00 price target (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. The Goldman Sachs Group started coverage on Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 price objective on the stock. Finally, Sanford C. Bernstein increased their target price on 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.55.

Waste Management Stock Performance

WM opened at $234.36 on Thursday. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $242.58. The stock has a market cap of $94.53 billion, a P/E ratio of 34.98, a P/E/G ratio of 2.45 and a beta of 0.58. The stock’s 50 day simple moving average is $221.19 and its 200 day simple moving average is $219.26. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.89 and a quick ratio of 0.80.

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

Insiders Place Their Bets

In other news, CFO David L. Reed sold 270 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $218.62, for a total transaction of $59,027.40. Following the completion of the transaction, the chief financial officer directly owned 8,843 shares of the company’s stock, valued at $1,933,256.66. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rafael Carrasco sold 690 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $219.01, for a total value of $151,116.90. Following the completion of the sale, the senior vice president directly owned 22,892 shares in the company, valued at approximately $5,013,576.92. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 43,559 shares of company stock valued at $9,959,299. Corporate insiders own 0.18% of the company’s stock.

More Waste Management News

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Analysts remain broadly positive on WM: several firms have raised price targets and maintained buy/outperform views, and the consensus price target sits well above the current share price — supporting demand for the stock. Waste Management Stock: Analyst Estimates & Ratings
• Neutral Sentiment: Local PR: Waste Management’s recycling work at the WM Phoenix Open (900+ tons diverted annually) is positive for brand and ESG positioning but unlikely to move near-term earnings or the stock materially. WM Phoenix Open recycles more than 900 tons of trash each year
• Neutral Sentiment: Broader market/sector headlines are active (e.g., energy/midstream stories) and can influence flows, but they do not directly change WM’s waste-management fundamentals. Williams Companies Stock Climbs as Investors Focus on Gas Demand
• Negative Sentiment: Insider selling: CEO James Fish, Jr. disclosed multiple open-market sales this week (657; 5,706; and 30,390 shares on Feb. 6, 10 and 9 respectively), totaling 36,753 shares for roughly $8.47M at ~ $230 per share and materially reducing his stake in the largest filing. While insiders sell for many reasons (diversification, taxes), the concentrated, recent selling is a negative signal that some investors may view as profit-taking or a near-term caution. SEC filing: SEC Filing – Insider Sales

Waste Management 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.