Meeder Asset Management Inc. cut its stake in Waste Management, Inc. (NYSE:WM) by 58.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,489 shares of the business services provider’s stock after selling 12,042 shares during the quarter. Meeder Asset Management Inc.’s holdings in Waste Management were worth $767,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Kiley Juergens Wealth Management LLC purchased a new stake in Waste Management during the second quarter valued at about $100,000. Point72 Hong Kong Ltd boosted its position in Waste Management by 1,095.4% during the second quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock valued at $106,000 after buying an additional 1,194 shares during the period. Braun Bostich & Associates Inc. boosted its position in Waste Management by 546.0% during the second quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock valued at $118,000 after buying an additional 1,223 shares during the period. Moneta Group Investment Advisors LLC boosted its position in Waste Management by 15.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock valued at $128,000 after buying an additional 14,720 shares during the period. Finally, Vigilant Capital Management LLC boosted its position in Waste Management by 200.0% during the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock valued at $136,000 after buying an additional 1,000 shares during the period. Institutional investors own 75.27% of the company’s stock.
NYSE WM opened at $90.46 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53. Waste Management, Inc. has a 12-month low of $78.33 and a 12-month high of $92.85. The stock has a market cap of $37.45 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.64.
Waste Management (NYSE:WM) last posted its earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.04. The company had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.82 billion. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. Sell-side analysts predict that Waste Management, Inc. will post 4.13 earnings per share for the current fiscal year.
Several analysts have issued reports on WM shares. Oppenheimer restated a “buy” rating and set a $95.00 price target on shares of Waste Management in a research report on Thursday, October 25th. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research report on Friday, October 19th. ValuEngine upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. BMO Capital Markets restated a “buy” rating and set a $93.00 price target on shares of Waste Management in a research report on Thursday, July 26th. Finally, Raymond James restated a “buy” rating on shares of Waste Management in a research report on Monday, October 29th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $95.50.
In other news, VP Jeff M. Harris sold 24,500 shares of the stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $90.00, for a total transaction of $2,205,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.
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Waste Management Profile
Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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