National Asset Management Inc. cut its position in shares of Waste Management, Inc. (NYSE:WM) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,712 shares of the business services provider’s stock after selling 45 shares during the period. National Asset Management Inc.’s holdings in Waste Management were worth $490,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Charter Trust Co. boosted its position in shares of Waste Management by 1.6% in the first quarter. Charter Trust Co. now owns 5,799 shares of the business services provider’s stock worth $423,000 after buying an additional 90 shares during the period. CHURCHILL MANAGEMENT Corp boosted its position in shares of Waste Management by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 278,733 shares of the business services provider’s stock worth $20,325,000 after buying an additional 11,138 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Waste Management by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 353,845 shares of the business services provider’s stock worth $25,803,000 after buying an additional 9,380 shares during the period. Franklin Street Advisors Inc. NC boosted its position in shares of Waste Management by 7.5% in the first quarter. Franklin Street Advisors Inc. NC now owns 92,942 shares of the business services provider’s stock worth $6,777,000 after buying an additional 6,509 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Waste Management during the fourth quarter worth $934,000. 75.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Waste Management, Inc. (NYSE WM) opened at 74.61 on Friday. The stock has a market cap of $32.83 billion, a P/E ratio of 25.55 and a beta of 0.71. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $76.00. The stock’s 50 day moving average is $74.49 and its 200 day moving average is $72.86.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the company earned $0.74 earnings per share. Waste Management’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
WM has been the subject of a number of research reports. Zacks Investment Research cut shares of Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. lifted their price objective on shares of Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, July 5th. Finally, KeyCorp boosted their price target on shares of Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $75.51.
In other news, Director John C. Pope sold 453 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total transaction of $33,694.14. Following the completion of the sale, the director now owns 51,470 shares of the company’s stock, valued at $3,828,338.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $72.25, for a total transaction of $252,875.00. Following the sale, the chief executive officer now directly owns 154,662 shares of the company’s stock, valued at approximately $11,174,329.50. The disclosure for this sale can be found here. Insiders sold 7,940 shares of company stock valued at $575,603 in the last ninety days. 0.19% of the stock is owned by corporate 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.
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