Allspring Global Investments Holdings LLC Has $55.93 Million Stock Holdings in Waste Management, Inc. (NYSE:WM)

Allspring Global Investments Holdings LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 278,890 shares of the business services provider’s stock after purchasing an additional 8,914 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Waste Management worth $55,929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Waste Management by 2.1% during the third quarter. Geode Capital Management LLC now owns 8,146,111 shares of the business services provider’s stock worth $1,686,203,000 after purchasing an additional 168,818 shares during the period. Parnassus Investments LLC raised its position in Waste Management by 11.3% during the third quarter. Parnassus Investments LLC now owns 5,120,772 shares of the business services provider’s stock valued at $1,063,072,000 after buying an additional 520,096 shares during the period. Nordea Investment Management AB raised its position in Waste Management by 7.1% during the fourth quarter. Nordea Investment Management AB now owns 4,240,429 shares of the business services provider’s stock valued at $854,446,000 after buying an additional 280,455 shares during the period. International Assets Investment Management LLC raised its position in Waste Management by 94,414.4% during the third quarter. International Assets Investment Management LLC now owns 2,591,584 shares of the business services provider’s stock valued at $538,013,000 after buying an additional 2,588,842 shares during the period. Finally, Barclays PLC raised its position in Waste Management by 12.8% during the third quarter. Barclays PLC now owns 2,433,408 shares of the business services provider’s stock valued at $505,175,000 after buying an additional 276,287 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

WM opened at $227.58 on Friday. The company has a market cap of $91.34 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The stock has a 50-day moving average of $211.93 and a 200-day moving average of $211.85. Waste Management, Inc. has a 52-week low of $195.97 and a 52-week high of $230.39. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.85 and a current ratio of 0.89.

Waste Management (NYSE:WM) last posted its quarterly earnings data 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, equities research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on WM shares. William Blair reissued an “outperform” rating on shares of Waste Management in a research report on Friday, January 31st. Raymond James upped their price target on Waste Management from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on Waste Management from $213.00 to $219.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on Waste Management from $227.00 to $235.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Argus boosted their target price on Waste Management from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.50.

Insider Buying and Selling

In related news, VP Donald J. Smith sold 191 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $220.22, for a total transaction of $42,062.02. Following the completion of the transaction, the vice president now owns 6,129 shares of the company’s stock, valued at approximately $1,349,728.38. The trade was a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John A. Carroll sold 209 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $220.55, for a total value of $46,094.95. Following the completion of 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 trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,055 shares of company stock valued at $3,578,340. Insiders own 0.18% of the company’s stock.

Waste Management Company 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.