Reliance Trust Co. of Delaware cut its stake in Waste Management, Inc. (NYSE:WM) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,137 shares of the business services provider’s stock after selling 156 shares during the period. Reliance Trust Co. of Delaware’s holdings in Waste Management were worth $523,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. 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 valued at $100,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management during the second quarter valued at approximately $103,000. 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 valued at $114,000 after buying an additional 14 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Waste Management during the first quarter valued at 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 valued at $130,000 after buying an additional 493 shares during the last quarter. Institutional investors and hedge funds own 75.59% of the company’s stock.

Shares of Waste Management, Inc. (WM) opened at 74.61 on Friday. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $76.00. The stock has a 50 day moving average of $74.49 and a 200-day moving average of $72.86. The company has a market capitalization of $32.83 billion, a P/E ratio of 25.55 and a beta of 0.71.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Equities research analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current year.

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Several analysts have commented on WM shares. Zacks Investment Research upgraded 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 note on Thursday, June 22nd. Stifel Nicolaus boosted their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $75.51.

In other news, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the transaction, the director now directly owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John C. Pope sold 453 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the transaction, the director now directly owns 51,470 shares in the company, valued at $3,828,338.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,940 shares of company stock worth $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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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