Private Trust Co. NA Has $317,000 Stake in Waste Management, Inc. (WM)
Private Trust Co. NA raised its stake in Waste Management, Inc. (NYSE:WM) by 6.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,332 shares of the business services provider’s stock after buying an additional 247 shares during the period. Private Trust Co. NA’s holdings in Waste Management were worth $317,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC boosted its position 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 period. Guardian Life Insurance Co. of America boosted its position 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 worth $114,000 after buying an additional 14 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in Waste Management during the first quarter worth $127,000. Parallel Advisors LLC boosted its position in 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. Finally, Pinnacle Bank purchased a new position in Waste Management during the first quarter worth $131,000. Institutional investors and hedge funds own 75.26% of the company’s stock.
Waste Management, Inc. (WM) traded down 0.13% during trading on Friday, hitting $75.52. 1,519,363 shares of the company were exchanged. The stock’s 50-day moving average is $74.14 and its 200-day moving average is $72.60. The company has a market capitalization of $33.23 billion, a price-to-earnings ratio of 25.86 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.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current year.
WM has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, June 22nd. Stifel Nicolaus lifted their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Waste Management has a consensus rating of “Hold” and an average target price of $75.24.
In related news, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now owns 23,222 shares in the company, valued at $1,734,218.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $72.25, for a total transaction of $252,875.00. Following the completion of the transaction, the chief executive officer now owns 154,662 shares of the company’s stock, valued at approximately $11,174,329.50. The disclosure for this sale can be found here. In the last three months, insiders sold 7,940 shares of company stock valued at $575,603. 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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