Waste Management, Inc. (WM) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 31.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,929 shares of the business services provider’s stock after acquiring an additional 929 shares during the quarter. Parallel Advisors LLC’s holdings in Waste Management were worth $408,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in shares of Waste Management by 5.0% during the 3rd quarter. Legal & General Group Plc now owns 2,166,790 shares of the business services provider’s stock valued at $195,766,000 after purchasing an additional 103,260 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Waste Management during the 3rd quarter valued at $4,058,000. Highwater Wealth Management LLC bought a new position in shares of Waste Management during the 4th quarter valued at $81,000. CHICAGO TRUST Co NA raised its holdings in shares of Waste Management by 11.4% during the 4th quarter. CHICAGO TRUST Co NA now owns 6,833 shares of the business services provider’s stock valued at $608,000 after purchasing an additional 700 shares in the last quarter. Finally, Hexavest Inc. bought a new position in shares of Waste Management during the 4th quarter valued at $53,937,000. Institutional investors own 75.79% of the company’s stock.

A number of research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Waste Management from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. UBS Group lowered shares of Waste Management from a “buy” rating to a “neutral” rating and raised their target price for the company from $103.00 to $106.00 in a research note on Thursday, April 4th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. KeyCorp assumed coverage on shares of Waste Management in a research note on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Finally, Royal Bank of Canada assumed coverage on shares of Waste Management in a research note on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 target price on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $105.22.

In other news, SVP Tara J. Hmmer sold 472 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $98.81, for a total transaction of $46,638.32. Following the completion of the transaction, the senior vice president now directly owns 17,208 shares of the company’s stock, valued at approximately $1,700,322.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Morris sold 1,540 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $98.82, for a total transaction of $152,182.80. Following the transaction, the executive vice president now directly owns 95,827 shares of the company’s stock, valued at $9,469,624.14. The disclosure for this sale can be found here. Insiders sold a total of 46,522 shares of company stock worth $4,921,224 over the last 90 days. Company insiders own 0.14% of the company’s stock.

NYSE:WM opened at $104.61 on Wednesday. Waste Management, Inc. has a 1 year low of $79.96 and a 1 year high of $107.45. The company has a current ratio of 0.69, a quick ratio of 0.66 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $44.98 billion, a P/E ratio of 24.91, a PEG ratio of 2.88 and a beta of 0.67.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.68 billion. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.91 EPS. Research analysts forecast that Waste Management, Inc. will post 4.32 EPS for the current year.

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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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