Waste Management, Inc. (NYSE:WM) Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its position in shares of Waste Management, Inc. (NYSE:WM) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,546 shares of the business services provider’s stock after acquiring an additional 6,438 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Waste Management were worth $21,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC grew its holdings in shares of Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock worth $25,000 after purchasing an additional 75 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Waste Management during the second quarter valued at about $31,000. Sachetta LLC purchased a new stake in shares of Waste Management in the 4th quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new position in shares of Waste Management during the 1st quarter worth approximately $35,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Waste Management in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Up 0.7 %

WM stock traded up $1.44 during midday trading on Tuesday, reaching $208.03. 1,121,448 shares of the company were exchanged, compared to its average volume of 1,706,747. The stock’s 50-day simple moving average is $209.15 and its 200 day simple moving average is $207.48. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The company has a market cap of $83.49 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The firm had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the previous year, the company earned $1.51 earnings per share. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts forecast that Waste Management, Inc. will post 7.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WM. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. Truist Financial cut their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Raymond James raised their price objective on shares of Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Stifel Nicolaus upped their target price on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada dropped their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Insider Buying and Selling

In related news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.