MainStreet Investment Advisors LLC Sells 2,248 Shares of Waste Management, Inc. $WM

MainStreet Investment Advisors LLC decreased its position in shares of Waste Management, Inc. (NYSE:WM) by 4.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 49,306 shares of the business services provider’s stock after selling 2,248 shares during the quarter. Waste Management makes up approximately 1.5% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 21st biggest position. MainStreet Investment Advisors LLC’s holdings in Waste Management were worth $10,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in WM. Brighton Jones LLC increased its position in Waste Management by 51.1% during the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Sprott Inc. purchased a new position in Waste Management during the first quarter valued at approximately $325,000. Sage Mountain Advisors LLC raised its stake in Waste Management by 23.1% in the second quarter. Sage Mountain Advisors LLC now owns 3,085 shares of the business services provider’s stock worth $706,000 after buying an additional 578 shares in the last quarter. MQS Management LLC purchased a new stake in Waste Management during the second quarter worth $205,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Waste Management by 21.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,321 shares of the business services provider’s stock valued at $2,819,000 after acquiring an additional 2,159 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WM shares. Citigroup reduced their price target on Waste Management from $270.00 to $263.00 and set a “buy” rating for the company in a research report on Friday, January 16th. The Goldman Sachs Group began coverage on shares of Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 target price for the company. DZ Bank began coverage on shares of Waste Management in a report on Tuesday, November 25th. They issued a “buy” rating and a $250.00 price target on the stock. Robert W. Baird upgraded shares of Waste Management from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $238.00 to $242.00 in a research note on Tuesday, November 4th. Finally, Stifel Nicolaus increased their target price on shares of Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.55.

Insider Transactions at Waste Management

In related news, VP Donald J. Smith sold 12,194 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.48, for a total value of $2,847,055.12. Following the completion of the transaction, the vice president owned 6,024 shares in the company, valued at $1,406,483.52. This trade represents a 66.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO John A. Carroll sold 1,021 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $234.71, for a total value of $239,638.91. Following the sale, the chief accounting officer owned 8,309 shares in the company, valued at approximately $1,950,205.39. The trade was a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,746 shares of company stock worth $14,470,494 over the last 90 days. Insiders own 0.18% of the company’s stock.

Waste Management Stock Performance

WM opened at $230.07 on Monday. The company has a market cap of $92.80 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 2.22. The firm’s 50-day moving average price is $224.16 and its 200-day moving average price is $219.29. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $242.58.

Waste Management (NYSE:WM) last released its earnings results on Wednesday, January 28th. The business services provider reported $1.93 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.02). The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.39 billion. Waste Management had a return on equity of 32.45% and a net margin of 10.74%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.70 EPS. As a group, equities analysts anticipate that Waste Management, Inc. will post 7.7 EPS for the current fiscal year.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.