Insider Selling: Waste Management (NYSE:WM) SVP Sells 7,352 Shares of Stock

Waste Management, Inc. (NYSE:WM) SVP Rafael Carrasco sold 7,352 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $234.50, for a total value of $1,724,044.00. Following the transaction, the senior vice president directly owned 15,540 shares of the company’s stock, valued at $3,644,130. The trade was a 32.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Rafael Carrasco also recently made the following trade(s):

• On Friday, January 30th, Rafael Carrasco sold 690 shares of Waste Management stock. The shares were sold at an average price of $219.01, for a total transaction of $151,116.90.
• On Thursday, November 20th, Rafael Carrasco sold 1,380 shares of Waste Management stock. The stock was sold at an average price of $217.06, for a total transaction of $299,542.80.

Waste Management Price Performance

Shares of NYSE WM traded up $3.70 during mid-day trading on Tuesday, reaching $238.22. 841,918 shares of the company were exchanged, compared to its average volume of 2,245,502. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58. The company’s 50 day moving average price is $222.42 and its 200 day moving average price is $219.21. The stock has a market capitalization of $96.08 billion, a PE ratio of 35.55, a PEG ratio of 2.48 and a beta of 0.58. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22.

Waste Management (NYSE:WM) last released 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 net margin of 10.74% and a return on equity of 32.45%. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.39 billion. During the same period in the prior year, the company earned $1.70 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Waste Management by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock valued at $8,566,508,000 after buying an additional 553,605 shares during the period. State Street Corp boosted its stake in Waste Management by 1.6% during the fourth quarter. State Street Corp now owns 17,390,748 shares of the business services provider’s stock worth $3,820,921,000 after acquiring an additional 281,456 shares in the last quarter. Geode Capital Management LLC grew its holdings in Waste Management by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider’s stock worth $1,972,371,000 after purchasing an additional 117,476 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Waste Management by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 5,668,221 shares of the business services provider’s stock valued at $1,250,613,000 after purchasing an additional 277,250 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Waste Management during the fourth quarter valued at approximately $1,022,916,000. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

WM has been the topic of a number of recent research reports. Truist Financial set a $260.00 price target on shares of Waste Management in a research report on Wednesday, October 29th. Scotiabank reaffirmed a “sector perform” rating and issued a $250.00 price objective (down previously from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. Morgan Stanley decreased their target price on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and upped their price target for the company from $238.00 to $242.00 in a research report on Tuesday, November 4th. Finally, TD Cowen lifted their price objective on Waste Management from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One equities research 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. According to data from MarketBeat, the company presently has an average 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.