Sei Investments Co. Acquires 48,426 Shares of Waste Management, Inc. (WM)

Sei Investments Co. raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 17.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 319,102 shares of the business services provider’s stock after buying an additional 48,426 shares during the period. Sei Investments Co. owned approximately 0.07% of Waste Management worth $23,405,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Waste Management during the second quarter valued at about $103,000. Guardian Life Insurance Co. of America increased its stake 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 valued at $114,000 after buying an additional 14 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock valued at $124,000 after buying an additional 340 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Waste Management during the first quarter valued at about $127,000. Finally, Parallel Advisors LLC increased its stake 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 valued at $130,000 after buying an additional 493 shares during the period. 75.53% of the stock is currently owned by institutional investors.

Waste Management, Inc. (NYSE:WM) opened at 75.53 on Friday. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $76.33. The firm has a market cap of $33.24 billion, a price-to-earnings ratio of 25.87 and a beta of 0.71. The company’s 50-day moving average is $74.75 and its 200 day moving average is $73.03.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. On average, equities research analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current year.

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A number of equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, May 31st. KeyCorp boosted their price objective on shares of Waste Management from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, May 11th. Finally, Credit Suisse Group boosted their price objective on shares of Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Waste Management currently has a consensus rating of “Hold” and an average target price 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 value of $252,665.00. Following the transaction, the chief executive officer now owns 151,162 shares of the company’s stock, valued at $10,912,384.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 completion of the transaction, the director now directly 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 ninety days, insiders have sold 4,440 shares of company stock worth $322,728. 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.

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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