Nissay Asset Management Corp Japan ADV lessened its holdings in Waste Management, Inc. (NYSE:WM) by 4.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 82,674 shares of the business services provider’s stock after selling 3,866 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Waste Management were worth $8,591,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in WM. Voit & Company LLC acquired a new position in shares of Waste Management in the 1st quarter worth approximately $214,000. Goelzer Investment Management Inc. acquired a new position in shares of Waste Management in the 1st quarter worth approximately $303,000. Twin Capital Management Inc. boosted its holdings in shares of Waste Management by 1.2% in the 1st quarter. Twin Capital Management Inc. now owns 41,520 shares of the business services provider’s stock worth $4,314,000 after acquiring an additional 510 shares in the last quarter. South Dakota Investment Council boosted its holdings in shares of Waste Management by 9.2% in the 1st quarter. South Dakota Investment Council now owns 33,300 shares of the business services provider’s stock worth $3,460,000 after acquiring an additional 2,800 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Waste Management by 14.9% in the 1st quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock worth $300,717,000 after acquiring an additional 374,826 shares in the last quarter. Institutional investors and hedge funds own 75.79% of the company’s stock.
Several research analysts have recently commented on WM shares. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Argus boosted their target price on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Oppenheimer boosted their target price on Waste Management from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 15th. Royal Bank of Canada started coverage on Waste Management in a report on Wednesday, May 1st. They issued a “sector perform” rating and a $113.00 target price on the stock. Finally, KeyCorp started coverage on Waste Management in a report on Monday, February 4th. They issued an “overweight” rating and a $96.00 target price on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $105.22.
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 consensus estimate of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the previous year, the company posted $0.91 EPS. Waste Management’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Waste Management, Inc. will post 4.32 EPS for the current fiscal year.
In other news, insider Steve Batchelor sold 707 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $98.83, for a total value of $69,872.81. Following the completion of the transaction, the insider now owns 22,142 shares of the company’s stock, valued at approximately $2,188,293.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Tara J. Hmmer sold 472 shares of the business’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold a total of 47,222 shares of company stock valued at $4,994,409 in the last quarter. Corporate insiders own 0.14% of the company’s stock.
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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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