Wedge Capital Management L L P NC Sells 44,476 Shares of Waste Management, Inc. (NYSE:WM)

Wedge Capital Management L L P NC trimmed its position in Waste Management, Inc. (NYSE:WM) by 29.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 106,049 shares of the business services provider’s stock after selling 44,476 shares during the period. Wedge Capital Management L L P NC’s holdings in Waste Management were worth $12,235,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Gravity Wealth Inc. boosted its position in Waste Management by 133.1% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock valued at $33,000 after buying an additional 161 shares during the last quarter. Personal Wealth Partners bought a new position in shares of Waste Management in the 2nd quarter worth $35,000. Hanson McClain Inc. boosted its position in shares of Waste Management by 51.0% in the 1st quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Coastal Capital Group Inc. bought a new position in shares of Waste Management in the 2nd quarter worth $39,000. Finally, Acima Private Wealth LLC bought a new position in shares of Waste Management in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 73.43% of the company’s stock.

Shares of NYSE:WM traded up $0.92 during midday trading on Thursday, hitting $116.92. The company had a trading volume of 23,188 shares, compared to its average volume of 1,648,394. Waste Management, Inc. has a 12 month low of $83.22 and a 12 month high of $119.56. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95. The company has a market cap of $49.94 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 3.18 and a beta of 0.62. The business has a fifty day moving average of $117.09.

Waste Management (NYSE:WM) last posted its earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. On average, sell-side analysts forecast that Waste Management, Inc. will post 4.33 earnings per share for the current fiscal year.

Several research firms have recently issued reports on WM. JPMorgan Chase & Co. began coverage on Waste Management in a research report on Wednesday, August 7th. They issued a “neutral” rating and a $120.00 price target on the stock. Argus raised their price target on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. CIBC restated a “market perform” rating on shares of Waste Management in a research report 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 report on Friday, July 26th. Finally, Stifel Nicolaus raised their price target on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Waste Management currently has a consensus 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 Waste Management stock in a transaction dated 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 transaction, the chief executive officer now directly owns 282,921 shares in the company, valued at $32,963,125.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Patrick W. Gross sold 289 shares of Waste Management stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the transaction, the director now owns 53,378 shares in the company, valued at $6,331,164.58. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

About Waste Management

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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