Rosenbaum Jay D. Buys 560 Shares of Waste Management, Inc. (NYSE:WM)

Rosenbaum Jay D. raised its stake in Waste Management, Inc. (NYSE:WM) by 8.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,235 shares of the business services provider’s stock after purchasing an additional 560 shares during the quarter. Waste Management makes up about 1.6% of Rosenbaum Jay D.’s portfolio, making the stock its 28th biggest holding. Rosenbaum Jay D.’s holdings in Waste Management were worth $834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Joseph P. Lucia & Associates LLC bought a new position in shares of Waste Management during the 1st quarter worth approximately $31,000. Hanson McClain Inc. boosted its stake in shares of Waste Management by 51.0% during the 1st quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after acquiring an additional 102 shares during the period. Financial Gravity Wealth Inc. boosted its stake in shares of Waste Management by 133.1% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after acquiring an additional 161 shares during the period. Personal Wealth Partners acquired a new stake in Waste Management during the 2nd quarter worth approximately $35,000. Finally, Acima Private Wealth LLC acquired a new stake in Waste Management during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.43% of the company’s stock.

In other news, Director Patrick W. Gross sold 289 shares of Waste Management stock in a transaction on 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 approximately $6,331,164.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James C. Fish, Jr. sold 84,314 shares of Waste Management stock in a transaction on Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the completion of the transaction, the chief executive officer now owns 282,921 shares in the company, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

NYSE WM traded up $2.01 during midday trading on Thursday, hitting $118.01. The company had a trading volume of 33,817 shares, compared to its average volume of 1,648,394. The stock has a market cap of $49.94 billion, a P/E ratio of 27.87, a PEG ratio of 3.18 and a beta of 0.62. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95. The business has a 50-day moving average of $117.09. Waste Management, Inc. has a twelve month low of $83.22 and a twelve month high of $119.56.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. As a group, equities analysts predict that Waste Management, Inc. will post 4.33 EPS for the current fiscal year.

Several research firms recently weighed in on WM. Raymond James set a $127.00 price target on Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada set a $126.00 price target on Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Oppenheimer reissued a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Argus lifted their price target on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus lifted their price target on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $113.91.

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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