First Trust Advisors LP reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 25.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 387,342 shares of the business services provider’s stock after selling 133,685 shares during the quarter. First Trust Advisors LP owned 0.09% of Waste Management worth $30,317,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. bought a new position in shares of Waste Management during the second quarter valued at about $101,000. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management in the second quarter worth about $103,000. Bruderman Asset Management LLC bought a new stake in shares of Waste Management in the second quarter worth about $110,000. Guardian Life Insurance Co. of America grew its stake in shares of 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 worth $114,000 after purchasing an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. grew its stake in shares of Waste Management by 4.3% in the second quarter. FTB Advisors Inc. now owns 1,585 shares of the business services provider’s stock worth $116,000 after purchasing an additional 65 shares during the last quarter. 75.29% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Waste Management, Inc. (WM) opened at 81.87 on Tuesday. The firm has a 50-day moving average of $78.04 and a 200 day moving average of $75.04. The stock has a market capitalization of $36.03 billion, a price-to-earnings ratio of 28.04 and a beta of 0.74. Waste Management, Inc. has a one year low of $63.19 and a one year high of $82.87.
Waste Management (NYSE:WM) last issued its earnings results on Thursday, October 26th. The business services provider reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.71 billion. Waste Management had a net margin of 9.66% and a return on equity of 25.61%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. On average, equities research analysts predict that Waste Management, Inc. will post $3.19 EPS for the current year.
Several analysts recently issued reports on the company. KeyCorp raised their target price on Waste Management from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 13th. BMO Capital Markets raised their target price on Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday. Zacks Investment Research cut Waste Management from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. raised their target price on Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Stifel Nicolaus cut Waste Management from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $80.00 in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $80.10.
Waste Management 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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