Waste Management, Inc. (NYSE:WM) Shares Sold by Strs Ohio
Strs Ohio reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 346,653 shares of the business services provider’s stock after selling 23,850 shares during the period. Strs Ohio’s holdings in Waste Management were worth $25,426,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position 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 last quarter. Northwest Investment Counselors LLC bought a new position in shares of Waste Management during the second quarter worth $103,000. Guardian Life Insurance Co. of America raised its position 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 last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Waste Management during the first quarter worth $127,000. Finally, Parallel Advisors LLC raised its position 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 last quarter. 75.59% of the stock is owned by institutional investors.
Shares of Waste Management, Inc. (NYSE WM) opened at 74.61 on Friday. The company has a market capitalization of $32.83 billion, a PE ratio of 25.55 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. The firm’s 50-day moving average is $74.49 and its 200 day moving average is $72.86.
Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the 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 for the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts predict that Waste Management, Inc. will post $3.19 EPS for the current year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus upped their target price 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. Oppenheimer Holdings, Inc. upped their target price on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. BMO Capital Markets assumed coverage on shares of Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 target price for the company. Finally, Credit Suisse Group upped their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $75.51.
In other Waste Management news, Director Patrick W. Gross sold 487 shares of Waste Management 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 sale, the director now owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the sale, the chief executive officer now directly owns 151,162 shares in the company, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,940 shares of company stock worth $575,603. 0.19% of the stock is owned by corporate 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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