Metropolitan Life Insurance Co. NY reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,057 shares of the business services provider’s stock after selling 3,959 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Waste Management were worth $15,682,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of WM. Quadrant Capital Group LLC raised its position in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock valued at $100,000 after buying an additional 78 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in 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 buying an additional 14 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in Waste Management during the first quarter worth $127,000. Parallel Advisors LLC increased its position in Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock worth $130,000 after buying an additional 493 shares during the period. Finally, Pinnacle Bank purchased a new position in Waste Management during the first quarter worth $131,000. Institutional investors and hedge funds own 75.59% of the company’s stock.
Waste Management, Inc. (NYSE:WM) opened at 74.61 on Friday. The firm’s 50-day moving average price is $74.49 and its 200 day moving average price is $72.86. The company has a market cap of $32.83 billion, a PE ratio of 25.55 and a beta of 0.71. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $76.00.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts predict that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
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A number of equities analysts have weighed in on the company. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Thursday, June 22nd. BMO Capital Markets assumed coverage on Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective on the stock. Stifel Nicolaus upped their price objective on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, Credit Suisse Group upped their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $75.51.
In related news, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the transaction, the director now owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John C. Pope sold 453 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,940 shares of company stock valued at $575,603. 0.19% of the stock is owned by corporate 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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