Erste Asset Management GmbH Decreases Stake in Waste Management, Inc. $WM

Erste Asset Management GmbH cut its position in Waste Management, Inc. (NYSE:WM) by 38.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,749 shares of the business services provider’s stock after selling 61,954 shares during the period. Erste Asset Management GmbH’s holdings in Waste Management were worth $22,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cornercap Investment Counsel Inc. purchased a new position in shares of Waste Management in the 3rd quarter valued at $1,583,000. Lockheed Martin Investment Management Co. purchased a new position in shares of Waste Management during the third quarter worth about $3,092,000. Guerra Advisors Inc lifted its holdings in shares of Waste Management by 59.5% in the 3rd quarter. Guerra Advisors Inc now owns 9,037 shares of the business services provider’s stock valued at $1,996,000 after purchasing an additional 3,371 shares during the last quarter. Compass Wealth Management LLC boosted its position in shares of Waste Management by 537.0% in the 3rd quarter. Compass Wealth Management LLC now owns 95,721 shares of the business services provider’s stock valued at $21,138,000 after purchasing an additional 80,695 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Waste Management by 19.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,287 shares of the business services provider’s stock worth $15,301,000 after buying an additional 11,135 shares during the period. 80.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Waste Management news, SVP Rafael Carrasco sold 7,352 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president owned 15,540 shares in the company, valued at approximately $3,644,130. This represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Tara J. Hemmer sold 690 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $219.71, for a total transaction of $151,599.90. Following the sale, the senior vice president owned 83,736 shares in the company, valued at $18,397,636.56. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,746 shares of company stock valued at $14,470,494 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Waste Management Trading Up 2.6%

Shares of Waste Management stock opened at $233.95 on Friday. The firm has a market cap of $94.36 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.41 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 company’s 50-day simple moving average is $225.09 and its 200-day simple moving average is $219.40. 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 announced its quarterly earnings data on Wednesday, January 28th. The business services provider reported $1.93 earnings per share 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 business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.39 billion. During the same period in the prior year, the firm posted $1.70 EPS. Waste Management’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Waste Management, Inc. will post 7.7 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WM shares. Morgan Stanley decreased their price objective on Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Oppenheimer raised their price objective on shares of Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Scotiabank reaffirmed a “sector perform” rating and issued a $250.00 target price (down from $254.00) on shares of Waste Management in a report on Wednesday, January 21st. Stifel Nicolaus raised their price target on Waste Management from $236.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their price target on Waste Management from $223.00 to $235.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. One 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 company’s stock. According to data from MarketBeat.com, the stock currently 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.