New England Asset Management Inc. maintained its stake in Waste Management, Inc. (NYSE:WM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the business services provider’s stock at the end of the first quarter. New England Asset Management Inc.’s holdings in Waste Management were worth $146,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. CHURCHILL MANAGEMENT Corp raised its position in Waste Management by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 278,733 shares of the business services provider’s stock valued at $20,325,000 after buying an additional 11,138 shares during the period. Global X Management Co. LLC raised its position in Waste Management by 28.6% in the first quarter. Global X Management Co. LLC now owns 5,037 shares of the business services provider’s stock worth $367,000 after buying an additional 1,121 shares during the last quarter. World Asset Management Inc raised its position in Waste Management by 17.2% in the first quarter. World Asset Management Inc now owns 45,871 shares of the business services provider’s stock worth $3,345,000 after buying an additional 6,748 shares during the last quarter. Willingdon Wealth Management raised its position in Waste Management by 12.2% in the first quarter. Willingdon Wealth Management now owns 18,294 shares of the business services provider’s stock worth $1,334,000 after buying an additional 1,995 shares during the last quarter. Finally, Berkshire Asset Management LLC PA raised its position in Waste Management by 3.6% in the first quarter. Berkshire Asset Management LLC PA now owns 292,998 shares of the business services provider’s stock worth $21,365,000 after buying an additional 10,054 shares during the last quarter. Hedge funds and other institutional investors own 75.53% of the company’s stock.
Shares of Waste Management, Inc. (NYSE WM) traded down 0.37% on Friday, reaching $75.25. The company’s stock had a trading volume of 1,555,063 shares. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $76.33. The stock has a market cap of $33.11 billion, a P/E ratio of 25.77 and a beta of 0.71. The firm’s 50 day moving average is $74.75 and its 200-day moving average is $73.03.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same period last year, the business posted $0.74 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current year.
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A number of research analysts recently weighed in on the company. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Thursday, June 22nd. BMO Capital Markets assumed coverage on Waste Management in a report on Thursday, June 29th. They set an “outperform” rating and a $81.00 target price on the stock. Stifel Nicolaus boosted their target price on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Credit Suisse Group boosted their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $75.51.
In related news, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the transaction, the chief executive officer now directly 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 through this link. Also, Director John C. Pope sold 453 shares of Waste Management stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,440 shares of company stock valued at $322,728. 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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