Kentucky Retirement Systems Insurance Trust Fund Raises Stake in Waste Management, Inc. (NYSE:WM)

Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Waste Management, Inc. (NYSE:WM) by 42.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,452 shares of the business services provider’s stock after purchasing an additional 4,639 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Waste Management were worth $3,118,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of 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 in the last quarter. Global Wealth Strategies & Associates raised its position in shares of Waste Management by 892.9% in the 4th quarter. Global Wealth Strategies & Associates now owns 139 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. General Partner Inc. acquired a new position in shares of Waste Management in the 4th quarter valued at approximately $29,000. Sugar Maple Asset Management LLC acquired a new position in shares of Waste Management in the 4th quarter valued at approximately $35,000. Finally, Richardson Financial Services Inc. raised its position in shares of Waste Management by 65.7% in the 4th quarter. Richardson Financial Services Inc. now owns 174 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Up 0.1 %

Shares of Waste Management stock opened at $227.80 on Tuesday. The stock has a 50-day moving average price of $212.11 and a 200 day moving average price of $212.29. The company has a market cap of $91.43 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.70 and a beta of 0.78. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 2.00. Waste Management, Inc. has a 1 year low of $196.59 and a 1 year high of $230.39.

Waste Management (NYSE:WM) last issued its 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%. As a group, analysts expect that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on Waste Management from $213.00 to $220.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price target on Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Jefferies Financial Group lowered their price objective on Waste Management from $255.00 to $238.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Citigroup upped their price objective on Waste Management from $242.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.94.

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.