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Is Waste Management, Inc. (WM) a Good Stock To Buy?

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Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on several financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Waste Management, Inc. (NYSE:WM) based on that data.

Hedge fund interest towards Waste Management, Inc. (NYSE:WM)’s shares remained unchanged during the third quarter. This is usually a negative indicator. However, the level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as The Blackstone Group L.P. (NYSE:BX), Activision Blizzard, Inc. (NASDAQ:ATVI), and Aon PLC (NYSE:AON) to gather more data points.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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With all of this in mind, we’re going to go over the fresh action encompassing Waste Management, Inc. (NYSE:WM).

What does the smart money think about Waste Management, Inc. (NYSE:WM)?

At the end of the third quarter, 34 funds tracked by Insider Monkey were long Waste Management, unchanged over the quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their stakes considerably (or already accumulated large positions).

HedgeFundSentimentChart

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Bill & Melinda Gates Foundation Trust, managed by Michael Larson, holds the biggest position in Waste Management, Inc. (NYSE:WM). Bill & Melinda Gates Foundation Trust has a $1.1881 billion position in the stock, comprising 6.4% of its 13F portfolio. On Bill & Melinda Gates Foundation Trust’s heels is Cliff Asness’ AQR Capital Management, with a $289.9 million position; the fund has 0.4% of its 13F portfolio invested in the stock. Other professional money managers with similar optimism comprise Israel Englander’s Millennium Management, Jim Simons’s Renaissance Technologies and John Overdeck and David Siegel’s Two Sigma Advisors.

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