United Asset Strategies Inc. decreased its stake in Waste Management, Inc. (NYSE:WM) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,534 shares of the business services provider’s stock after selling 1,397 shares during the period. Waste Management comprises about 1.4% of United Asset Strategies Inc.’s investment portfolio, making the stock its 20th biggest position. United Asset Strategies Inc.’s holdings in Waste Management were worth $6,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of WM. Nordea Investment Management AB increased its holdings in shares of Waste Management by 22.9% in the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after buying an additional 547,291 shares during the last quarter. FMR LLC boosted its stake in shares of Waste Management by 136.9% in the 4th quarter. FMR LLC now owns 817,457 shares of the business services provider’s stock valued at $72,745,000 after purchasing an additional 472,388 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Waste Management by 14.9% in the 1st quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock valued at $300,717,000 after purchasing an additional 374,826 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Waste Management by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock valued at $462,699,000 after purchasing an additional 326,408 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of Waste Management by 12,605.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 298,204 shares of the business services provider’s stock valued at $29,820,000 after purchasing an additional 295,857 shares in the last quarter. 73.43% of the stock is currently owned by hedge funds and other institutional investors.
WM traded up $1.31 during trading on Tuesday, hitting $119.04. 33,601 shares of the stock traded hands, compared to its average volume of 1,658,645. The company has a market cap of $50.51 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 3.21 and a beta of 0.62. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66. The company has a 50-day moving average price of $117.05. Waste Management, Inc. has a 12-month low of $83.22 and a 12-month high of $119.56.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. As a group, equities research analysts expect that Waste Management, Inc. will post 4.33 EPS for the current fiscal year.
In other Waste Management news, CEO James C. Fish, Jr. sold 84,314 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the completion of the transaction, the chief executive officer now directly owns 282,921 shares in the company, valued at approximately $32,963,125.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick W. Gross sold 289 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total transaction of $34,278.29. Following the completion of the transaction, the director now owns 53,378 shares of the company’s stock, valued at $6,331,164.58. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
A number of equities research analysts have recently issued reports on WM shares. KeyCorp upped their price objective on shares of Waste Management from $112.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Scotiabank started coverage on shares of Waste Management in a research note on Monday, July 22nd. They issued an “outperform” rating for the company. Raymond James set a $127.00 price objective on shares of Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. started coverage on shares of Waste Management in a research note on Wednesday, August 7th. They issued a “neutral” rating and a $120.00 price objective for the company. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $113.91.
About Waste Management
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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