Atlantic Trust LLC continued to hold its stake in shares of Waste Management, Inc. (NYSE:WM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,550 shares of the business services provider’s stock at the end of the first quarter. Atlantic Trust LLC’s holdings in Waste Management were worth $259,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Aldebaran Financial Inc. raised its stake in shares of Waste Management by 6.2% in the first quarter. Aldebaran Financial Inc. now owns 40,004 shares of the business services provider’s stock worth $2,917,000 after buying an additional 2,328 shares during the last quarter. Ibex Wealth Advisors increased its position in Waste Management by 4.8% in the first quarter. Ibex Wealth Advisors now owns 42,895 shares of the business services provider’s stock valued at $3,143,000 after buying an additional 1,977 shares during the period. Achmea Investment Management B.V. acquired a new position in Waste Management during the first quarter valued at approximately $8,680,000. Bank of Nova Scotia increased its position in Waste Management by 23.4% in the first quarter. Bank of Nova Scotia now owns 411,484 shares of the business services provider’s stock valued at $30,005,000 after buying an additional 78,100 shares during the period. Finally, Meridian Wealth Management LLC acquired a new position in Waste Management during the first quarter valued at approximately $539,000. 75.53% of the stock is currently owned by institutional investors.
Shares of Waste Management, Inc. (NYSE WM) traded down 0.37% during trading on Friday, hitting $75.25. 1,555,063 shares of the company were exchanged. The company’s 50-day moving average price is $74.81 and its 200 day moving average price is $73.07. The stock has a market cap of $33.11 billion, a P/E ratio of 25.77 and a beta of 0.71. 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 data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. On average, equities analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
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Several equities analysts have commented on WM shares. Oppenheimer Holdings, Inc. boosted their price target 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. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, June 22nd. BMO Capital Markets started 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 for the company. Stifel Nicolaus boosted 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 boosted 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 analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Waste Management presently has a consensus rating of “Hold” and a consensus price target of $75.51.
In other Waste Management news, Director John C. Pope sold 453 shares of the firm’s 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 transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the transaction, the chief executive officer now directly owns 151,162 shares of the company’s stock, valued at $10,912,384.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,440 shares of company stock valued at $322,728. 0.19% of the stock is owned by company 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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