Opus Investment Management Inc. decreased its stake in Waste Management, Inc. (NYSE:WM) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,133 shares of the business services provider’s stock after selling 3,900 shares during the period. Opus Investment Management Inc.’s holdings in Waste Management were worth $3,729,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp boosted its stake in Waste Management by 4.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 278,733 shares of the business services provider’s stock worth $20,325,000 after buying an additional 11,138 shares during the period. Thrivent Financial for Lutherans boosted its stake in Waste Management by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,299 shares of the business services provider’s stock worth $1,013,000 after buying an additional 670 shares during the period. World Asset Management Inc boosted its stake in Waste Management by 17.2% in the first quarter. World Asset Management Inc now owns 45,871 shares of the business services provider’s stock worth $3,345,000 after buying an additional 6,748 shares during the period. FMR LLC boosted its stake in Waste Management by 450.1% in the fourth quarter. FMR LLC now owns 1,166,861 shares of the business services provider’s stock worth $82,743,000 after buying an additional 954,745 shares during the period. Finally, Willingdon Wealth Management boosted its stake in Waste Management by 12.2% in the first quarter. Willingdon Wealth Management now owns 18,294 shares of the business services provider’s stock worth $1,334,000 after buying an additional 1,995 shares during the period. 75.59% of the stock is currently owned by institutional investors.
Waste Management, Inc. (NYSE:WM) traded down 0.07% during trading on Tuesday, hitting $75.34. 1,325,309 shares of the company’s stock traded hands. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $76.00. The stock has a market cap of $33.15 billion, a P/E ratio of 25.80 and a beta of 0.71. The firm’s 50-day moving average price is $74.30 and its 200 day moving average price is $72.66.
Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. Analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on WM shares. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Thursday, June 22nd. BMO Capital Markets started coverage on Waste Management in a report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Credit Suisse Group lifted their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $75.24.
In related news, Director John C. Pope sold 453 shares of Waste Management stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now directly owns 51,470 shares in the company, valued at approximately $3,828,338.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James C. Fish, Jr. sold 3,500 shares of Waste Management stock in a transaction dated 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 sale, the chief executive officer now owns 151,162 shares in the company, valued at $10,912,384.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,940 shares of company stock valued at $575,603. 0.19% of the stock is owned by company insiders.
About Waste Management
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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