First Trust Advisors LP raised its holdings in shares of Waste Management, Inc. (NYSE:WM) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 225,806 shares of the business services provider’s stock after purchasing an additional 5,907 shares during the period. First Trust Advisors LP owned approximately 0.05% of Waste Management worth $25,968,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Nuveen Asset Management LLC lifted its holdings in shares of Waste Management by 6,950.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,763,123 shares of the business services provider’s stock valued at $434,152,000 after buying an additional 3,709,746 shares during the period. BlackRock Inc. lifted its holdings in shares of Waste Management by 3.1% during the 2nd quarter. BlackRock Inc. now owns 32,164,573 shares of the business services provider’s stock valued at $3,710,826,000 after buying an additional 976,898 shares during the period. Senator Investment Group LP bought a new position in shares of Waste Management during the 2nd quarter valued at $79,028,000. California Public Employees Retirement System lifted its holdings in shares of Waste Management by 17.3% during the 2nd quarter. California Public Employees Retirement System now owns 3,395,778 shares of the business services provider’s stock valued at $391,771,000 after buying an additional 501,763 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Waste Management by 12.7% during the 2nd quarter. Invesco Ltd. now owns 3,864,997 shares of the business services provider’s stock valued at $445,904,000 after buying an additional 435,062 shares during the period. Institutional investors and hedge funds own 73.06% of the company’s stock.
In other Waste Management news, VP Michael J. Watson sold 8,019 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $119.40, for a total value of $957,468.60. Following the completion of the sale, the vice president now owns 17,254 shares in the company, valued at approximately $2,060,127.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Charles C. Boettcher sold 589 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $115.95, for a total value of $68,294.55. Following the completion of the sale, the senior vice president now owns 3,147 shares of the company’s stock, valued at approximately $364,894.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,347 shares of company stock worth $1,585,155. 0.14% of the stock is owned by insiders.
Shares of Waste Management stock opened at $110.94 on Thursday. Waste Management, Inc. has a one year low of $83.49 and a one year high of $121.77. The stock’s fifty day moving average is $113.82 and its 200 day moving average is $114.07. The stock has a market cap of $46.87 billion, a P/E ratio of 26.41, a P/E/G ratio of 3.08 and a beta of 0.60. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.82 and a current ratio of 1.86.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.05. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the firm earned $1.15 EPS. Waste Management’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that Waste Management, Inc. will post 4.35 EPS for the current year.
WM has been the topic of several research analyst reports. Raymond James set a $127.00 price target on Waste Management and gave the company a “buy” rating in a report on Friday, July 26th. ValuEngine cut Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Macquarie reissued an “outperform” rating and set a $130.00 price target on shares of Waste Management in a report on Wednesday, September 4th. Royal Bank of Canada set a $126.00 price target on Waste Management and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Bank of America cut Waste Management from a “buy” rating to a “neutral” rating in a report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $116.82.
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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