Russell Investments Group Ltd. increased its stake in shares of Waste Management, Inc. (NYSE:WM) by 40.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 856,007 shares of the business services provider’s stock after buying an additional 245,618 shares during the period. Russell Investments Group Ltd. owned about 0.19% of Waste Management worth $62,795,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after buying an additional 1,790,546 shares during the period. BlackRock Inc. boosted its position in shares of Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares in the last quarter. State Street Corp boosted its position in shares of Waste Management by 0.6% in the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock worth $1,552,295,000 after buying an additional 134,152 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Waste Management by 5.2% in the first quarter. Wells Fargo & Company MN now owns 7,327,831 shares of the business services provider’s stock worth $534,346,000 after buying an additional 362,315 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Waste Management by 10.2% in the first quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock worth $409,399,000 after buying an additional 518,270 shares in the last quarter. 75.53% of the stock is owned by hedge funds and other institutional investors.
Waste Management, Inc. (WM) traded down 0.37% on Friday, reaching $75.25. 1,555,063 shares of the company traded hands. The company has a market capitalization of $33.11 billion, a PE ratio of 25.77 and a beta of 0.71. Waste Management, Inc. has a one year low of $61.08 and a one year high of $76.33. The stock’s 50 day moving average price is $74.81 and its 200 day moving average price is $73.07.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter last year, the business earned $0.74 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
A number of research analysts have recently issued reports 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 objective for the company in a report on Thursday, June 22nd. Stifel Nicolaus lifted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a report 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 stock. Waste Management presently has an average rating of “Hold” and an average price target of $75.51.
In other news, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the sale, the chief executive officer now owns 151,162 shares in the company, valued at $10,912,384.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Pope sold 453 shares of Waste Management stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the sale, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,440 shares of company stock worth $322,728. Company 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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