8,383 Shares in Waste Management, Inc. (NYSE:WM) Acquired by Chesapeake Wealth Management

Chesapeake Wealth Management purchased a new position in Waste Management, Inc. (NYSE:WM) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,383 shares of the business services provider’s stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WM. Norges Bank acquired a new position in Waste Management during the fourth quarter worth $402,210,000. YorkBridge Wealth Partners LLC grew its position in shares of Waste Management by 3.3% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 7,228 shares of the business services provider’s stock valued at $643,000 after purchasing an additional 230 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Waste Management in the fourth quarter valued at about $236,000. Summit Financial Wealth Advisors LLC lifted its stake in shares of Waste Management by 0.9% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 34,865 shares of the business services provider’s stock valued at $3,103,000 after buying an additional 295 shares during the period. Finally, Fiera Capital Corp lifted its stake in shares of Waste Management by 241.4% in the fourth quarter. Fiera Capital Corp now owns 9,936 shares of the business services provider’s stock valued at $884,000 after buying an additional 7,026 shares during the period. 75.79% of the stock is currently owned by institutional investors and hedge funds.

NYSE WM opened at $105.22 on Friday. The company has a market cap of $44.98 billion, a PE ratio of 25.05, a PEG ratio of 2.88 and a beta of 0.67. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.69 and a quick ratio of 0.66. Waste Management, Inc. has a 1-year low of $79.96 and a 1-year high of $107.45.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.03. The company had revenue of $3.70 billion during 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 company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. Equities analysts predict that Waste Management, Inc. will post 4.32 earnings per share for the current year.

In related news, EVP John J. Morris sold 42,795 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $106.38, for a total value of $4,552,532.10. Following the completion of the sale, the executive vice president now owns 101,332 shares of the company’s stock, valued at $10,779,698.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Devina A. Rankin sold 692 shares of Waste Management stock in a transaction on Friday, February 15th. The stock was sold at an average price of $98.80, for a total transaction of $68,369.60. Following the sale, the chief financial officer now directly owns 22,128 shares of the company’s stock, valued at approximately $2,186,246.40. The disclosure for this sale can be found here. In the last three months, insiders sold 47,222 shares of company stock valued at $4,994,409. 0.14% of the stock is currently owned by company insiders.

Several equities research analysts recently weighed in on the stock. 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 for the company. Oppenheimer increased 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. Argus increased their target price on shares of Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. Finally, UBS Group cut shares of Waste Management from a “buy” rating to a “neutral” rating and raised their price target for the stock from $103.00 to $106.00 in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $105.22.

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Waste Management Company 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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