A. D. Beadell Investment Counsel Inc. Sells 200 Shares of Waste Management, Inc. (NYSE:WM)

A. D. Beadell Investment Counsel Inc. cut its position in Waste Management, Inc. (NYSE:WM) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,800 shares of the business services provider’s stock after selling 200 shares during the period. A. D. Beadell Investment Counsel Inc.’s holdings in Waste Management were worth $278,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Gulf International Bank UK Ltd increased its stake in shares of Waste Management by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 134,751 shares of the business services provider’s stock worth $9,826,000 after buying an additional 1,680 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock worth $100,000 after buying an additional 78 shares during the last quarter. National Pension Service increased its stake in shares of Waste Management by 2.2% in the first quarter. National Pension Service now owns 361,700 shares of the business services provider’s stock worth $26,379,000 after buying an additional 7,860 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Waste Management by 7.3% in the first quarter. Bank of Montreal Can now owns 1,072,455 shares of the business services provider’s stock worth $78,204,000 after buying an additional 73,303 shares during the last quarter. Finally, TNB Financial acquired a new stake in shares of Waste Management during the first quarter worth about $494,000. 75.59% of the stock is owned by institutional investors and hedge funds.

Shares of Waste Management, Inc. (WM) traded up 0.24% during trading on Friday, hitting $74.99. The stock had a trading volume of 452,941 shares. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $76.00. The firm has a market cap of $33.00 billion, a price-to-earnings ratio of 25.68 and a beta of 0.71. The stock has a 50-day moving average of $74.45 and a 200 day moving average of $72.82.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. Waste Management’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.

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A number of analysts recently issued reports on WM shares. Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday, June 22nd. BMO Capital Markets started coverage on Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective for the company. Stifel Nicolaus raised their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Credit Suisse Group raised their target price on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $75.51.

In related news, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $72.25, for a total value of $252,875.00. Following the completion of the transaction, the chief executive officer now owns 154,662 shares of the company’s stock, valued at $11,174,329.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick W. Gross sold 487 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the transaction, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Insiders sold 7,940 shares of company stock valued at $575,603 in the last three months. 0.19% of the stock is currently owned by company insiders.

About Waste Management

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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