Wambolt & Associates LLC Raises Position in Waste Management, Inc. (NYSE:WM)

Wambolt & Associates LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 16.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,117 shares of the business services provider’s stock after purchasing an additional 1,315 shares during the quarter. Waste Management makes up about 0.9% of Wambolt & Associates LLC’s investment portfolio, making the stock its 28th biggest position. Wambolt & Associates LLC’s holdings in Waste Management were worth $1,052,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Nordea Investment Management AB raised its position in shares of Waste Management by 22.9% in the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after buying an additional 547,291 shares during the period. FMR LLC raised its position in shares of Waste Management by 136.9% in the 4th quarter. FMR LLC now owns 817,457 shares of the business services provider’s stock worth $72,745,000 after buying an additional 472,388 shares during the period. California Public Employees Retirement System raised its position 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 buying an additional 374,826 shares during the period. Geode Capital Management LLC raised its position in shares of Waste Management by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after buying an additional 326,408 shares during the period. Finally, Thoroughbred Financial Services LLC raised its position in shares of Waste Management by 12,605.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 298,204 shares of the business services provider’s stock worth $29,820,000 after buying an additional 295,857 shares during the period. 73.57% of the stock is currently owned by institutional investors.

NYSE:WM traded up $0.60 during mid-day trading on Wednesday, hitting $116.70. The company had a trading volume of 699,729 shares, compared to its average volume of 1,584,986. The business has a fifty day simple moving average of $116.67. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95. Waste Management, Inc. has a 1 year low of $83.22 and a 1 year high of $118.89. The company has a market capitalization of $48.92 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 3.16 and a beta of 0.62.

Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.07 by $0.04. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Management, Inc. will post 4.32 EPS for the current year.

Several research analysts recently weighed in on the company. Royal Bank of Canada set a $126.00 target price on Waste Management and gave the stock a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus increased their target price on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. KeyCorp increased their target price on Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Scotiabank assumed coverage on Waste Management in a research report on Monday, July 22nd. They issued an “outperform” rating on the stock. Finally, Raymond James set a $127.00 target price on Waste Management and gave the stock a “buy” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $113.91.

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

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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