CIBC Asset Management Inc increased its position in Waste Management, Inc. (NYSE:WM) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 45,039 shares of the business services provider’s stock after buying an additional 569 shares during the period. CIBC Asset Management Inc’s holdings in Waste Management were worth $3,304,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WM. Guardian Life Insurance Co. of America increased its stake in 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 valued at $114,000 after buying an additional 14 shares during the period. Choate Investment Advisors increased its stake in Waste Management by 0.7% in the first quarter. Choate Investment Advisors now owns 3,224 shares of the business services provider’s stock valued at $235,000 after buying an additional 22 shares during the period. Lakeview Capital Partners LLC increased its stake in Waste Management by 0.8% in the first quarter. Lakeview Capital Partners LLC now owns 3,630 shares of the business services provider’s stock valued at $265,000 after buying an additional 30 shares during the period. American Asset Management Inc. increased its stake in Waste Management by 0.7% in the first quarter. American Asset Management Inc. now owns 5,797 shares of the business services provider’s stock valued at $423,000 after buying an additional 40 shares during the period. Finally, Archford Capital Strategies LLC increased its stake in Waste Management by 0.3% in the first quarter. Archford Capital Strategies LLC now owns 16,304 shares of the business services provider’s stock valued at $1,184,000 after buying an additional 45 shares during the period. 75.53% of the stock is currently owned by institutional investors.

Shares of Waste Management, Inc. (NYSE WM) opened at 75.70 on Wednesday. The company has a market capitalization of $33.31 billion, a PE ratio of 25.92 and a beta of 0.71. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $76.00. The stock’s 50 day moving average price is $74.61 and its 200 day moving average price is $72.99.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current year.

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Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Stifel Nicolaus upped their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Oppenheimer Holdings, Inc. upped their price objective on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, July 5th. Credit Suisse Group upped their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, BMO Capital Markets assumed coverage on shares of Waste Management in a report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $75.51.

In other news, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total value of $252,665.00. Following the transaction, the chief executive officer now directly owns 151,162 shares in the company, valued at $10,912,384.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,440 shares of company stock worth $322,728. Insiders own 0.19% of the company’s stock.

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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