Waste Management, Inc. $WM Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in Waste Management, Inc. (NYSE:WM) by 18.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,375,932 shares of the business services provider’s stock after selling 550,681 shares during the quarter. Waste Management comprises 1.7% of Vontobel Holding Ltd.’s holdings, making the stock its 8th largest holding. Vontobel Holding Ltd. owned about 0.59% of Waste Management worth $529,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Waste Management during the 4th quarter worth approximately $1,022,916,000. Corient Private Wealth LLC boosted its stake in shares of Waste Management by 279.0% in the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock valued at $236,387,000 after purchasing an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. boosted its stake in shares of Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock valued at $17,716,000 after purchasing an additional 767,615 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock worth $150,466,000 after buying an additional 660,776 shares during the period. Finally, Vanguard Group Inc. raised its stake 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 worth $8,566,508,000 after buying an additional 553,605 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Shares of WM opened at $224.73 on Monday. The business’s fifty day moving average is $227.62 and its 200 day moving average is $227.86. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The stock has a market cap of $89.83 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.76 and a beta of 0.44.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the business posted $1.92 EPS. Waste Management’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

WM has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Oppenheimer lowered their price objective on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Citigroup boosted their price objective on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Royal Bank Of Canada raised their target price on Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Finally, Scotiabank lifted their target price on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.89.

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.