Investment Centers of America Inc. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 68,242 shares of the business services provider’s stock after buying an additional 2,379 shares during the period. Investment Centers of America Inc.’s holdings in Waste Management were worth $4,976,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC increased 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 period. Guardian Life Insurance Co. of America increased 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 period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Waste Management during the first quarter valued at about $127,000. Parallel Advisors LLC increased 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 period. Finally, Pinnacle Bank purchased a new stake in shares of Waste Management during the first quarter valued at about $131,000. 75.53% of the stock is currently owned by institutional investors.
Shares of Waste Management, Inc. (WM) traded down 0.37% during midday trading on Friday, reaching $75.25. 1,555,063 shares of the company were exchanged. The company has a market capitalization of $33.11 billion, a P/E ratio of 25.77 and a beta of 0.71. The stock has a 50-day moving average price of $74.81 and a 200 day moving average price of $73.07. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $76.33.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The business had revenue of $3.68 billion during 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%. Waste Management’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities research analysts expect that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
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Several analysts have issued reports on WM shares. Oppenheimer Holdings, Inc. boosted their target price on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, June 22nd. BMO Capital Markets initiated coverage on shares of Waste Management in a research note on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target on the stock. Stifel Nicolaus upped 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. Finally, Credit Suisse Group upped their price target 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $75.51.
In related 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 transaction of $36,369.16. Following the completion of the sale, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were 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 of the company’s stock, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Insiders have sold a total of 4,440 shares of company stock valued at $322,728 in the last ninety days. 0.19% of the stock is currently owned by insiders.
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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