Waste Management, Inc. (NYSE:WM) Shares Acquired by Corundum Group Inc.

Corundum Group Inc. grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 58.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,893 shares of the business services provider’s stock after purchasing an additional 3,276 shares during the period. Corundum Group Inc.’s holdings in Waste Management were worth $1,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WM. DSM Capital Partners LLC acquired a new position in Waste Management in the fourth quarter worth about $38,000. Capital Wealth Planning LLC bought a new position in Waste Management during the fourth quarter worth $86,364,000. Dai ichi Life Insurance Company Ltd raised its holdings in Waste Management by 2.5% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 173,782 shares of the business services provider’s stock valued at $31,124,000 after acquiring an additional 4,199 shares during the period. Wellington Management Group LLP increased its position in Waste Management by 18.4% during the fourth quarter. Wellington Management Group LLP now owns 312,618 shares of the business services provider’s stock worth $55,990,000 after acquiring an additional 48,549 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Waste Management during the 4th quarter worth $1,673,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Insider Activity at Waste Management

In other news, VP Michael J. Watson sold 4,208 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the completion of the sale, the vice president now owns 45,644 shares in the company, valued at $9,324,156.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the transaction, the vice president now owns 45,644 shares in the company, valued at approximately $9,324,156.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, 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. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Up 0.3 %

Shares of Waste Management stock traded up $0.56 on Thursday, reaching $206.91. 1,080,201 shares of the company were exchanged, compared to its average volume of 1,710,411. Waste Management, Inc. has a 1-year low of $149.71 and a 1-year high of $225.00. The company has a market cap of $82.99 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.30 and a beta of 0.74. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. The stock’s 50 day moving average price is $208.84 and its 200-day moving average price is $206.79.

Waste Management (NYSE:WM) last issued its quarterly earnings data 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 return on equity of 39.52% and a net margin of 12.13%. The company had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the business earned $1.51 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada cut their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Truist Financial reduced their price target on shares of Waste Management from $240.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. StockNews.com downgraded Waste Management from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 25th. TD Cowen increased their price objective on Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, Stifel Nicolaus increased their price objective on Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.83.

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.