Candriam Luxembourg S.C.A. boosted its stake in Waste Management, Inc. (NYSE:WM) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,358 shares of the business services provider’s stock after buying an additional 6,278 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Waste Management were worth $4,134,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in Waste Management during the second quarter valued at about $103,000. Guardian Life Insurance Co. of America increased its stake in Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock valued at $124,000 after buying an additional 340 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Waste Management during the first quarter valued at about $127,000. Finally, Parallel Advisors LLC increased its stake in Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock valued at $130,000 after buying an additional 493 shares during the period. 75.53% of the stock is currently owned by hedge funds and other institutional investors.
Waste Management, Inc. (NYSE:WM) opened at 75.53 on Friday. The firm has a market capitalization of $33.24 billion, a price-to-earnings ratio of 25.87 and a beta of 0.71. The firm’s 50-day moving average is $74.75 and its 200 day moving average is $73.03. Waste Management, Inc. has a one year low of $61.08 and a one year high of $76.33.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Analysts forecast that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
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Several research firms recently issued reports on WM. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets began coverage on shares of Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price target on the stock. Credit Suisse Group lifted their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $75.51.
In related news, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the transaction, the chief executive officer now directly owns 151,162 shares in the company, valued at approximately $10,912,384.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,440 shares of company stock valued at $322,728. Corporate insiders own 0.19% of the company’s stock.
Waste Management Company Profile
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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