Waste Management, Inc. (NYSE:WM) Shares Purchased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG increased its position in shares of Waste Management, Inc. (NYSE:WM) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,572 shares of the business services provider’s stock after purchasing an additional 8,702 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Waste Management were worth $25,936,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Parnassus Investments LLC lifted its position in Waste Management by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 4,799,687 shares of the business services provider’s stock valued at $859,624,000 after acquiring an additional 16,213 shares during the last quarter. Norges Bank purchased a new stake in Waste Management in the fourth quarter valued at $784,486,000. Capital World Investors lifted its position in Waste Management by 44.6% in the first quarter. Capital World Investors now owns 4,226,869 shares of the business services provider’s stock valued at $900,957,000 after acquiring an additional 1,303,466 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Waste Management by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,997,367 shares of the business services provider’s stock valued at $357,729,000 after acquiring an additional 38,828 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Waste Management by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,931,135 shares of the business services provider’s stock valued at $345,851,000 after acquiring an additional 17,254 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Activity

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total value of $330,000.00. Following the sale, the vice president now directly owns 44,144 shares in the company, valued at $9,711,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 44,144 shares in the company, valued at approximately $9,711,680. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WM. CIBC reduced their price target on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. BMO Capital Markets reduced their target price on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a report on Friday, July 26th. TD Cowen upped their target price on shares of Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. Morgan Stanley upped their target price on shares of Waste Management from $202.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Truist Financial reduced their target price on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.83.

Waste Management Price Performance

WM traded down $0.14 on Friday, hitting $209.98. 810,828 shares of the company were exchanged, compared to its average volume of 1,691,846. 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 business’s fifty day moving average is $209.62 and its 200 day moving average is $207.79. Waste Management, Inc. has a fifty-two week low of $149.71 and a fifty-two week high of $225.00. The firm has a market capitalization of $84.22 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, hitting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The company had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the business posted $1.51 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Waste Management, Inc. will post 7.24 EPS for the current year.

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.