Teacher Retirement System of Texas boosted its position in Waste Management, Inc. (NYSE:WM) by 40.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 795,557 shares of the business services provider’s stock after purchasing an additional 230,095 shares during the period. Teacher Retirement System of Texas owned 0.19% of Waste Management worth $64,711,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of WM. Koch Industries Inc. increased its stake in shares of Waste Management by 24.8% in the first quarter. Koch Industries Inc. now owns 9,586 shares of the business services provider’s stock valued at $806,000 after buying an additional 1,904 shares during the period. Stock Yards Bank & Trust Co. acquired a new stake in shares of Waste Management in the second quarter valued at about $992,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Waste Management by 6.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 163,299 shares of the business services provider’s stock valued at $13,283,000 after buying an additional 9,319 shares during the period. Sei Investments Co. increased its stake in shares of Waste Management by 28.7% in the first quarter. Sei Investments Co. now owns 405,929 shares of the business services provider’s stock valued at $34,147,000 after buying an additional 90,458 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Waste Management in the first quarter valued at about $987,000. 75.34% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. ValuEngine raised Waste Management from a “hold” rating to a “buy” rating in a research note on Saturday, July 28th. BMO Capital Markets reissued a “buy” rating and issued a $93.00 price target on shares of Waste Management in a research note on Thursday, July 26th. Finally, Zacks Investment Research cut Waste Management from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $91.22.
Waste Management opened at $89.94 on Friday, according to MarketBeat Ratings. Waste Management, Inc. has a one year low of $74.61 and a one year high of $90.71. The company has a market cap of $38.64 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 1.48.
Waste Management (NYSE:WM) last released its earnings results on Wednesday, July 25th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. Waste Management had a return on equity of 27.38% and a net margin of 14.94%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. research analysts predict that Waste Management, Inc. will post 4.08 EPS for the current fiscal year.
In related news, Director Patrick W. Gross sold 406 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $83.22, for a total transaction of $33,787.32. Following the completion of the sale, the director now owns 24,149 shares of the company’s stock, valued at $2,009,679.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.
Waste Management Company 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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