Waste Management, Inc. (NYSE:WM) Stake Cut by Whittier Trust Co. of Nevada Inc.
Whittier Trust Co. of Nevada Inc. lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,020 shares of the business services provider’s stock after selling 35 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Waste Management were worth $442,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock worth $100,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Waste Management during the second quarter worth $103,000. Guardian Life Insurance Co. of America raised its position in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in shares of Waste Management during the first quarter worth $127,000. Finally, Parallel Advisors LLC raised its position in shares of Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock worth $130,000 after buying an additional 493 shares during the period. 75.59% of the stock is owned by hedge funds and other institutional investors.
Waste Management, Inc. (WM) traded down 0.17% during midday trading on Monday, hitting $75.39. The company had a trading volume of 868,227 shares. The firm’s 50 day moving average is $74.14 and its 200-day moving average is $72.60. The firm has a market capitalization of $33.17 billion, a P/E ratio of 25.82 and a beta of 0.71. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $76.00.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. On average, equities research analysts expect that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
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A number of research firms have commented on WM. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Friday, April 28th. KeyCorp raised their price objective on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.24.
In other news, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $72.25, for a total value of $252,875.00. Following the completion of the sale, the chief executive officer now owns 154,662 shares of the company’s stock, valued at approximately $11,174,329.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the sale, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Insiders have sold a total of 7,940 shares of company stock worth $575,603 over the last quarter. 0.19% of the stock is currently owned by insiders.
About Waste Management
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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