Waste Management, Inc. (NYSE:WM) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its position in Waste Management, Inc. (NYSE:WM) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,366 shares of the business services provider’s stock after selling 500 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Waste Management were worth $3,504,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Activest Wealth Management lifted its position in Waste Management by 4,000.0% during the 3rd quarter. Activest Wealth Management now owns 123 shares of the business services provider’s stock worth $26,000 after acquiring an additional 120 shares during the period. Global Wealth Strategies & Associates lifted its position in Waste Management by 892.9% during the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock worth $28,000 after acquiring an additional 125 shares during the period. General Partner Inc. acquired a new stake in Waste Management during the 4th quarter worth approximately $29,000. Sugar Maple Asset Management LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $35,000. Finally, Pineridge Advisors LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $35,000. 80.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO John A. Carroll sold 209 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $220.55, for a total transaction of $46,094.95. Following the sale, the chief accounting officer now owns 9,066 shares in the company, valued at $1,999,506.30. This trade represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Rafael Carrasco sold 4,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $225.89, for a total value of $903,560.00. Following the sale, the senior vice president now owns 18,531 shares in the company, valued at $4,185,967.59. This trade represents a 17.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,055 shares of company stock valued at $3,578,340. Corporate insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $227.80 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89. The stock has a fifty day moving average of $212.11 and a two-hundred day moving average of $212.15. The company has a market capitalization of $91.43 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.70 and a beta of 0.78. Waste Management, Inc. has a fifty-two week low of $196.59 and a fifty-two week high of $230.39.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Waste Management had a return on equity of 38.88% and a net margin of 12.45%. On average, analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on WM shares. Citigroup increased their price objective on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Raymond James raised their price target on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a report on Friday, January 31st. CIBC raised their price target on Waste Management from $228.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Truist Financial raised their price target on Waste Management from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $235.94.

Waste Management Profile

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.