Waste Management, Inc. (NYSE:WM) Stock Position Cut by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in Waste Management, Inc. (NYSE:WM) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 338,150 shares of the business services provider’s stock after selling 912 shares during the period. Waste Management comprises approximately 1.3% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 9th biggest position. Kornitzer Capital Management Inc. KS owned approximately 0.08% of Waste Management worth $68,235,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Swedbank AB increased its holdings in Waste Management by 67.2% in the 3rd quarter. Swedbank AB now owns 1,765,594 shares of the business services provider’s stock worth $366,537,000 after acquiring an additional 709,678 shares in the last quarter. Stratos Wealth Advisors LLC raised its position in shares of Waste Management by 32.2% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,781 shares of the business services provider’s stock worth $370,000 after purchasing an additional 434 shares during the last quarter. Blue Trust Inc. lifted its stake in Waste Management by 57.4% in the 3rd quarter. Blue Trust Inc. now owns 5,567 shares of the business services provider’s stock valued at $1,188,000 after buying an additional 2,031 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in Waste Management by 7.8% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 2,567 shares of the business services provider’s stock worth $533,000 after buying an additional 185 shares during the last quarter. Finally, OLD National Bancorp IN raised its holdings in shares of Waste Management by 14.0% during the third quarter. OLD National Bancorp IN now owns 7,071 shares of the business services provider’s stock valued at $1,468,000 after acquiring an additional 868 shares during the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Stock Up 0.1 %

NYSE:WM opened at $227.80 on Tuesday. Waste Management, Inc. has a 52 week low of $196.59 and a 52 week high of $230.39. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.00. The stock’s fifty day moving average is $212.11 and its two-hundred day moving average is $212.29. The stock has a market capitalization of $91.43 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78.

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

Analysts Set New Price Targets

Several brokerages recently commented on WM. BMO Capital Markets boosted their price target on Waste Management from $213.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com cut shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. UBS Group boosted their price target on shares of Waste Management from $220.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, William Blair restated an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.94.

Insider Transactions at Waste Management

In related news, SVP Rafael Carrasco sold 4,000 shares of the 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 transaction, the senior vice president now owns 18,531 shares of the company’s stock, valued at $4,185,967.59. This represents a 17.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO John A. Carroll sold 209 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.55, for a total value of $46,094.95. Following the transaction, the chief accounting officer now directly owns 9,066 shares of the company’s stock, valued at approximately $1,999,506.30. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,055 shares of company stock valued at $3,578,340. 0.18% of the stock is currently owned by corporate insiders.

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.