Waste Management, Inc. (WM) Position Boosted by BTR Capital Management Inc.
BTR Capital Management Inc. increased its position in shares of Waste Management, Inc. (NYSE:WM) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,303 shares of the business services provider’s stock after buying an additional 131 shares during the period. BTR Capital Management Inc.’s holdings in Waste Management were worth $902,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management during the second quarter worth approximately $103,000. Quadrant Capital Group LLC boosted its stake in shares of 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 stake in shares of 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 bought a new stake in shares of Waste Management during the first quarter worth approximately $127,000. Finally, Parallel Advisors LLC boosted its stake in shares of 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. 75.59% of the stock is owned by institutional investors.
Waste Management, Inc. (WM) traded down 0.25% during trading on Thursday, reaching $75.04. The company’s stock had a trading volume of 483,569 shares. The company’s 50-day moving average is $74.41 and its 200-day moving average is $72.81. The stock has a market cap of $33.02 billion, a PE ratio of 25.70 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 released 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. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities analysts expect that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
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A number of analysts have recently commented on the company. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets assumed coverage on Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target for the company. Stifel Nicolaus upped their price target on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Credit Suisse Group upped their price target on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note 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 company. Waste Management currently has an average rating of “Hold” and an average target price of $75.24.
In other news, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the sale, the director now owns 23,222 shares in the company, valued at $1,734,218.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total value of $252,665.00. Following the sale, the chief executive officer now owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,940 shares of company stock valued at $575,603. Corporate 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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