Franklin Street Advisors Inc. NC Purchases 8,349 Shares of Waste Management, Inc. (NYSE:WM)
Franklin Street Advisors Inc. NC boosted its stake in Waste Management, Inc. (NYSE:WM) by 9.0% during the second quarter, Holdings Channel reports. The institutional investor owned 101,291 shares of the business services provider’s stock after buying an additional 8,349 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Waste Management were worth $7,430,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock valued at $2,199,436,000 after buying an additional 29,049,915 shares in the last quarter. Renaissance Technologies LLC raised its position in Waste Management by 95.0% in the first quarter. Renaissance Technologies LLC now owns 3,857,300 shares of the business services provider’s stock valued at $281,274,000 after buying an additional 1,879,300 shares during the last quarter. Vanguard Group Inc. raised its position in Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after buying an additional 1,790,546 shares during the last quarter. Janus Capital Management LLC raised its position in Waste Management by 34.1% in the first quarter. Janus Capital Management LLC now owns 3,449,747 shares of the business services provider’s stock valued at $251,556,000 after buying an additional 876,766 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Waste Management by 8,682.3% in the first quarter. American Century Companies Inc. now owns 798,311 shares of the business services provider’s stock valued at $58,213,000 after buying an additional 789,221 shares during the last quarter. 75.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Waste Management, Inc. (WM) traded down 0.27% during midday trading on Thursday, hitting $75.03. The stock had a trading volume of 482,123 shares. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $76.00. The firm has a market cap of $33.02 billion, a P/E ratio of 25.70 and a beta of 0.71. The company’s 50 day moving average is $74.41 and its 200 day moving average is $72.81.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. Waste Management’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, equities analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
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Several research firms have recently issued reports on WM. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Stifel Nicolaus boosted their target price on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. boosted their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 5th. Credit Suisse Group boosted their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. Finally, BMO Capital Markets began coverage on Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 target price for the company. 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 presently has an average rating of “Hold” and an average target price of $75.24.
In related news, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management 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 sale, the chief executive officer now directly owns 151,162 shares in the company, valued at $10,912,384.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Pope sold 453 shares of Waste Management stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now owns 51,470 shares in the company, valued at $3,828,338.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,940 shares of company stock worth $575,603. 0.19% of the stock is 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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