Mechanics Bank Trust Department Sells 1,700 Shares of Waste Management, Inc. (WM)

Mechanics Bank Trust Department reduced its position in Waste Management, Inc. (NYSE:WM) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,108 shares of the business services provider’s stock after selling 1,700 shares during the quarter. Mechanics Bank Trust Department’s holdings in Waste Management were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Hudock Capital Group LLC increased its position in Waste Management by 0.6% in the second quarter. Hudock Capital Group LLC now owns 2,060 shares of the business services provider’s stock worth $151,000 after buying an additional 12 shares during the last quarter. Guardian Life Insurance Co. of America boosted its holdings 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 acquiring an additional 14 shares during the period. Lincoln National Corp boosted its holdings in shares of Waste Management by 0.5% in the second quarter. Lincoln National Corp now owns 4,404 shares of the business services provider’s stock worth $323,000 after acquiring an additional 21 shares during the period. Choate Investment Advisors boosted its holdings in shares of Waste Management by 0.7% in the first quarter. Choate Investment Advisors now owns 3,224 shares of the business services provider’s stock worth $235,000 after acquiring an additional 22 shares during the period. Finally, Bridgewater Wealth & Financial Management LLC boosted its holdings in shares of Waste Management by 0.5% in the second quarter. Bridgewater Wealth & Financial Management LLC now owns 4,032 shares of the business services provider’s stock worth $296,000 after acquiring an additional 22 shares during the period. 75.29% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on WM. Credit Suisse Group set a $90.00 price target on Waste Management and gave the stock a “buy” rating in a report on Monday. Oppenheimer Holdings, Inc. raised their price target on Waste Management from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets raised their price target on Waste Management from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday. Zacks Investment Research raised Waste Management from a “sell” rating to a “hold” rating in a report on Friday. Finally, KeyCorp reaffirmed a “buy” rating and issued a $88.00 price target on shares of Waste Management in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.10.

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Waste Management, Inc. (WM) traded down 0.055% during midday trading on Tuesday, reaching $81.825. The company had a trading volume of 445,526 shares. The company has a market capitalization of $36.01 billion, a price-to-earnings ratio of 28.022 and a beta of 0.74. The firm has a 50-day moving average price of $78.04 and a 200-day moving average price of $75.04. Waste Management, Inc. has a 52 week low of $63.19 and a 52 week high of $82.87.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 26th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. Waste Management had a return on equity of 25.61% and a net margin of 9.66%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business posted $0.84 EPS. Waste Management’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts expect that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.

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.

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

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