Park National Corp OH lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,307 shares of the business services provider’s stock after selling 1,305 shares during the period. Park National Corp OH’s holdings in Waste Management were worth $1,196,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of WM. 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 period. 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 period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Waste Management during the first quarter worth about $127,000. 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 period. Finally, Pinnacle Bank acquired a new position in shares of Waste Management during the first quarter worth about $131,000. 75.53% of the stock is owned by institutional investors.
Shares of Waste Management, Inc. (NYSE WM) opened at 75.25 on Friday. The firm has a market cap of $33.11 billion, a P/E ratio of 25.77 and a beta of 0.71. The stock’s 50 day moving average price is $74.81 and its 200-day moving average price is $73.07. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $76.33.
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 firm 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 business’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
WM has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. increased their price objective on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, June 22nd. BMO Capital Markets started coverage on Waste Management in a research report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 target price for the company. Stifel Nicolaus upped their target price on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Credit Suisse Group upped their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Waste Management presently has an average rating of “Hold” and a consensus price target of $75.51.
In other Waste Management news, Director John C. Pope sold 453 shares of Waste Management stock in a transaction 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 completion of the sale, the director now owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick W. Gross sold 487 shares of Waste Management stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the sale, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. 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. 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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