Rosenbaum Jay D. Buys 560 Shares of Waste Management, Inc. (NYSE:WM)

Rosenbaum Jay D. raised its stake in Waste Management, Inc. (NYSE:WM) by 8.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 7,235 shares of the business services provider’s stock after acquiring an additional 560 shares during the period. Waste Management comprises about 1.6% of Rosenbaum Jay D.’s investment portfolio, making the stock its 28th largest position. Rosenbaum Jay D.’s holdings in Waste Management were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC lifted its stake in shares of Waste Management by 1.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 5,111 shares of the business services provider’s stock valued at $590,000 after purchasing an additional 86 shares during the period. AdvisorNet Financial Inc raised its stake in Waste Management by 1.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,022 shares of the business services provider’s stock worth $695,000 after buying an additional 87 shares during the period. 6 Meridian raised its stake in Waste Management by 1.7% during the 2nd quarter. 6 Meridian now owns 5,181 shares of the business services provider’s stock worth $598,000 after buying an additional 88 shares during the period. Hanseatic Management Services Inc. raised its stake in Waste Management by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 7,652 shares of the business services provider’s stock worth $883,000 after buying an additional 90 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in Waste Management by 1.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,400 shares of the business services provider’s stock worth $623,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 73.43% of the company’s stock.

In other Waste Management news, CEO James C. Fish, Jr. sold 84,314 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the completion of the transaction, the chief executive officer now directly owns 282,921 shares of the company’s stock, valued at $32,963,125.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 289 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total value of $34,278.29. Following the transaction, the director now directly owns 53,378 shares of the company’s stock, valued at $6,331,164.58. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

A number of research firms recently weighed in on WM. Royal Bank of Canada set a $126.00 price target on Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Argus upped their price target on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Raymond James set a $127.00 price target on Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, KeyCorp upped their price target on Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $113.91.

Shares of Waste Management stock traded up $2.01 on Thursday, hitting $118.01. The company had a trading volume of 33,817 shares, compared to its average volume of 1,648,394. The firm has a market capitalization of $49.94 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 3.18 and a beta of 0.62. Waste Management, Inc. has a 1 year low of $83.22 and a 1 year high of $119.56. The stock’s 50 day simple moving average is $117.09. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, analysts anticipate that Waste Management, Inc. will post 4.33 EPS for the current year.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

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

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