Supplemental Annuity Collective Trust of NJ maintained its position in Waste Management, Inc. (NYSE:WM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,326 shares of the business services provider’s stock at the end of the second quarter. Supplemental Annuity Collective Trust of NJ’s holdings in Waste Management were worth $977,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Nova Scotia increased its position in shares of 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 worth $30,005,000 after buying an additional 78,100 shares during the last quarter. Global X Management Co. LLC increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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, State Street Corp increased 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 during the last quarter. 75.53% of the stock is owned by institutional investors and hedge funds.
Shares of Waste Management, Inc. (WM) opened at 75.70 on Wednesday. The company has a 50-day moving average of $74.61 and a 200-day moving average of $72.99. The stock has a market capitalization of $33.31 billion, a price-to-earnings ratio of 25.92 and a beta of 0.71. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $76.00.
Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $3.68 billion for 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%. Waste Management’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 earnings per share. Equities research analysts anticipate that Waste Management, Inc. will post $3.19 EPS for the current year.
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A number of research analysts recently commented on WM shares. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Thursday, June 22nd. Stifel Nicolaus increased their price target 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 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. The stock has a consensus rating of “Hold” and an average price target of $75.51.
In other Waste Management news, Director Patrick W. Gross sold 487 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the transaction, the director now directly owns 23,222 shares in the company, valued at approximately $1,734,218.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Pope sold 453 shares of the business’s stock in a transaction dated 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 owns 51,470 shares in the company, valued at $3,828,338.60. The disclosure for this sale can be found here. Insiders have sold 4,440 shares of company stock worth $322,728 over the last 90 days. 0.19% of the stock is currently 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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