NorthCrest Asset Management LLC Reduces Inventory in Waste Management, Inc. (NYSE:WM)


NorthCrest Asset Management LLC reduced its position in Waste Management, Inc. (NYSE:WM – Get Rating) by 86.3% in the first quarter, HoldingsChannel reports. The institutional investor held 2,201 shares of the business services provider after selling 13,893 shares during the period. NorthCrest Asset Management LLC’s holdings in Waste Management were worth $349,000 at the end of the most recent reporting period.

Several other hedge funds have also recently changed their positions in the company. Steward Financial Group LLC acquired a new stake in Waste Management during Q4 valued at approximately $25,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in Waste Management during Q4 valued at approximately $25,000. Amplius Wealth Advisors LLC acquired a new stake in Waste Management during the 4th quarter for a value of approximately $27,000. Mizuho Securities Co.Ltd. acquired a new stake in Waste Management during the 1st quarter for a value of approximately $32,000. Finally, SOA Wealth Advisors LLC. increased its position in Cleaning by 51.5% in the 4th quarter. Wealth Advisors SOA LLC. now owns 206 shares of the business services provider worth $34,000 after buying 70 more shares in the last quarter. Institutional investors and hedge funds hold 80.37% of the company’s shares.

Separately, Executive Vice President John J. Morris sold 47,006 shares of the company in a transaction that took place on Thursday, April 28. The stock was sold at an average price of $168.10, for a total transaction of $7,901,708.60. Following the transaction, the executive vice president now directly owns 95,461 shares of the company, valued at approximately $16,046,994.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, SVP Nikolaj H. Sjoqvist sold 10,311 shares of the company in a trade that took place on Thursday, April 28. The stock was sold at an average price of $166.57, for a total value of $1,717,503.27. Following the transaction, the senior vice president now directly owns 38,769 shares of the company, valued at $6,457,752.33. The disclosure of this sale can be found here. Insiders sold a total of 59,985 shares of the company worth $10,072,025 in the past three months. 0.18% of the shares are currently held by company insiders.

A number of research companies have recently commented on WM. Bank of America downgraded Waste Management from an “underperforming” to a “neutral” rating and raised its price target for the stock from $155.00 to $165.00 in a research report from the Friday May 13. Morgan Stanley lowered its price target on waste management from $165.00 to $160.00 and set an “equal weight” rating for the company in a Wednesday, June 22 report. Deutsche Bank Aktiengesellschaft raised its price target on waste management from $157.00 to $167.00 in a Thursday, April 28 report. BMO Capital Markets upgraded Waste Management from an “outperforming” rating to a “market performing” rating and set a price target of $174.00 for the company. in a report on Tuesday, April 12. Finally, Raymond James raised its price target on waste management from $167.00 to $170.00 and gave the company an “outperform” rating in a Friday, April 22 report. Six investment analysts gave the stock a hold rating, two issued a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, Waste Management currently has an average rating of “Hold” and an average target price of $163.00.

NYSE WM opened at $151.25 on Thursday. The company has a market capitalization of $62.80 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.49 and a beta of 0.80. Waste Management, Inc. has a 1-year low of $138.58 and a 1-year high of $170.18. The company has a debt ratio of 1.83, a current ratio of 0.80 and a quick ratio of 0.76. The company’s 50-day simple moving average is $155.34 and its 200-day simple moving average is $155.02.

Waste Management (NYSE:WM – Get Rating) last released quarterly earnings data on Tuesday, April 26. The business services provider reported earnings per share of $1.29 for the quarter, beating the consensus estimate of $1.12 by $0.17. The company posted revenue of $4.66 billion for the quarter, versus analyst estimates of $4.45 billion. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The company’s revenue increased by 13.4% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $1.06. On average, equity research analysts expect Waste Management, Inc. to post EPS of 5.55 for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 17. Investors of record on Friday, June 3 received a dividend of $0.65 per share. This represents an annualized dividend of $2.60 and a yield of 1.72%. The ex-dividend date was Thursday, June 2. Waste Management’s dividend payout ratio (DPR) is currently 57.27%.

Waste management profile (Get an assessment)

Waste Management, Inc, through its subsidiaries, provides environmental waste management services to residential, commercial, industrial and municipal customers in North America. It offers collection services, including the collection and transport of waste and recyclable materials from their place of generation to a transfer station, a material recovery facility (MRF) or a disposal site; and owns, develops and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

Further reading

Want to see what other hedge funds hold WM? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Waste Management, Inc. (NYSE:WM – Get Rating).

Institutional Ownership by Quarter for Waste Management (NYSE:WM)



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