Waste Management, Inc. (NYSE:WM) is Scott & Selber Inc.’s 7th Largest Position
Scott & Selber Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,915 shares of the business services provider’s stock after purchasing an additional 599 shares during the period. Waste Management makes up 2.4% of Scott & Selber Inc.’s investment portfolio, making the stock its 7th largest holding. Scott & Selber Inc.’s holdings in Waste Management were worth $4,720,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. raised its holdings in shares of Waste Management by 133.1% during the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 161 shares during the last quarter. Personal Wealth Partners bought a new stake in Waste Management during the second quarter valued at approximately $35,000. Hanson McClain Inc. grew its position in Waste Management by 51.0% during the first quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock valued at $31,000 after buying an additional 102 shares during the period. Coastal Capital Group Inc. bought a new stake in Waste Management during the second quarter valued at approximately $39,000. Finally, Acima Private Wealth LLC bought a new stake in Waste Management during the first quarter valued at approximately $39,000. 73.43% of the stock is owned by hedge funds and other institutional investors.
Shares of WM traded up $1.31 during midday trading on Tuesday, hitting $119.04. The stock had a trading volume of 837,754 shares, compared to its average volume of 1,658,645. Waste Management, Inc. has a 1 year low of $83.22 and a 1 year high of $119.56. The stock has a market capitalization of $50.51 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 3.21 and a beta of 0.62. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95. The company’s 50 day moving average is $117.05.
In other news, Director Patrick W. Gross sold 289 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total value of $34,278.29. Following the transaction, the director now directly owns 53,378 shares in the company, valued at $6,331,164.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James C. Fish, Jr. sold 84,314 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the transaction, the chief executive officer now owns 282,921 shares in the company, valued at $32,963,125.71. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Several analysts recently issued reports on the stock. Oppenheimer restated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Waste Management in a research report on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price for the company. CIBC restated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Raymond James set a $127.00 target price on shares of Waste Management and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Argus boosted their target price on shares of Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Waste Management currently has an average rating of “Buy” and a consensus target price of $113.91.
Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides 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, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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