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HOUSTON—Kimberly G. Stith, Senior Vice President and Chief Human Resources Officer at Waste Management Inc. (NYSE:WM), executed a notable stock transaction earlier this month, according to a recent SEC filing. The transaction comes as InvestingPro data shows the stock trading near its 52-week high of $235.81, with technical indicators suggesting overbought conditions.
On March 3, Stith sold 62 shares of Waste Management’s common stock at an average price of $234.77 per share, totaling $14,555. This move was part of a Rule 10b5-1 Trading Plan, aimed at covering personal federal income tax obligations.
In addition to the sale, Stith also settled restricted share awards on March 1, disposing of 94 shares at a uniform price of $231.37 per share, valued at $21,748. These transactions were related to awards under Waste Management’s 2023 and 2014 Stock Incentive Plans.
Following these transactions, Stith holds 4,444.4609 shares in the company. Waste Management, headquartered in Houston, is a leading provider in the refuse systems industry.
In other recent news, Waste Management has reported strong financial results, with revenue and EBITDA surpassing consensus expectations, according to Jefferies. The investment banking firm has raised its price target for the company to $257 while maintaining a Buy rating, highlighting mid-single-digit percentage growth in pricing and positive volume developments. Erste Group has upgraded Waste Management’s stock rating from Hold to Buy, citing robust growth prospects and a favorable price-to-earnings ratio compared to its peers. The analysts anticipate significant revenue and operating income increases in 2025. Stifel has also maintained a Buy rating with a price target of $252, following Waste Management’s impressive fourth-quarter performance and optimistic forecast for fiscal year 2025. The company’s sustainability initiatives are projected to contribute significantly to its financial outcomes, with an estimated $190 million expected from these efforts in FY25. Raymond (NSE:RYMD) James and Oppenheimer have both reaffirmed their Outperform ratings, with Raymond James emphasizing Waste Management’s investments in sustainability, and Oppenheimer noting the company’s strategic focus on enhancing service quality and productivity. These developments reflect a positive outlook for Waste Management, with analysts expressing confidence in the company’s growth trajectory and financial performance.
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