Creative Planning Has $4.34 Million Position in Waste Management, Inc. (WM)
Creative Planning raised its position in shares of Waste Management, Inc. (NYSE:WM) by 4.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 59,166 shares of the business services provider’s stock after buying an additional 2,688 shares during the period. Creative Planning’s holdings in Waste Management were worth $4,340,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of WM. Quadrant Capital Group LLC raised 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 in the last quarter. Northwest Investment Counselors LLC purchased a new position in Waste Management during the second quarter worth approximately $103,000. Guardian Life Insurance Co. of America raised 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Waste Management during the first quarter worth approximately $127,000. Finally, Parallel Advisors LLC raised 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 in the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
Shares of Waste Management, Inc. (NYSE:WM) traded up 0.15% during trading on Tuesday, reaching $75.50. 278,287 shares of the company were exchanged. The company has a 50 day moving average price of $74.14 and a 200-day moving average price of $72.60. The stock has a market capitalization of $33.22 billion, a price-to-earnings ratio of 25.86 and a beta of 0.71. Waste Management, Inc. has a one year low of $61.08 and a one year high of $76.00.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the firm posted $0.74 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts predict that Waste Management, Inc. will post $3.19 EPS for the current year.
A number of research firms have recently commented on WM. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, June 22nd. BMO Capital Markets began coverage on shares of Waste Management in a research report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target on the stock. 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 research report on Tuesday, July 18th. Finally, Credit Suisse Group lifted their price target on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $75.24.
In other Waste Management news, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the transaction, the chief executive officer now owns 151,162 shares in the company, valued at approximately $10,912,384.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick W. Gross sold 487 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the transaction, the director now owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,940 shares of company stock worth $575,603 in the last quarter. Company insiders own 0.19% of the company’s stock.
Waste Management Company Profile
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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