Mengis Capital Management Inc. Has $814,000 Position in Waste Management, Inc. (WM)
Mengis Capital Management Inc. held its stake in Waste Management, Inc. (NYSE:WM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,110 shares of the business services provider’s stock at the end of the second quarter. Mengis Capital Management Inc.’s holdings in Waste Management were worth $814,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new stake in Waste Management during the second quarter valued at $101,000. Northwest Investment Counselors LLC bought a new stake in Waste Management during the second quarter valued at $103,000. Guardian Life Insurance Co. of America raised its stake 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 valued at $114,000 after buying an additional 14 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock valued at $124,000 after buying an additional 340 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Waste Management during the first quarter valued at $127,000. 75.53% of the stock is owned by institutional investors and hedge funds.
Shares of Waste Management, Inc. (WM) opened at 75.54 on Tuesday. The firm has a market cap of $33.24 billion, a PE ratio of 25.87 and a beta of 0.71. The stock has a 50 day moving average price of $74.88 and a 200 day moving average price of $73.17. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $76.33.
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 net margin of 9.18% and a return on equity of 25.07%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
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Several research firms have recently weighed in on WM. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets began coverage on Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective for the company. Credit Suisse Group raised their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $75.51.
In related news, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. Insiders sold a total of 4,440 shares of company stock valued at $322,728 in the last three months. 0.19% of the stock is owned by company 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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