Leavell Investment Management Inc. cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 43,659 shares of the business services provider’s stock after selling 1,200 shares during the period. Leavell Investment Management Inc.’s holdings in Waste Management were worth $3,202,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Gulf International Bank UK Ltd boosted its position in Waste Management by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 134,751 shares of the business services provider’s stock worth $9,826,000 after buying an additional 1,680 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in Waste Management during the first quarter worth $233,000. Quadrant Capital Group LLC boosted its position in 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 worth $100,000 after buying an additional 78 shares during the last quarter. National Pension Service boosted its position in Waste Management by 2.2% in the first quarter. National Pension Service now owns 361,700 shares of the business services provider’s stock worth $26,379,000 after buying an additional 7,860 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Waste Management by 7.3% in the first quarter. Bank of Montreal Can now owns 1,072,455 shares of the business services provider’s stock worth $78,204,000 after buying an additional 73,303 shares during the last quarter. 75.59% of the stock is owned by institutional investors and hedge funds.
Shares of Waste Management, Inc. (NYSE WM) traded down 0.2797% during midday trading on Thursday, reaching $75.0196. 482,023 shares of the company traded hands. The firm has a market capitalization of $33.01 billion, a P/E ratio of 25.6916 and a beta of 0.71. The company has a 50 day moving average of $74.41 and a 200 day moving average of $72.81. Waste Management, Inc. has a 12 month low of $61.08 and a 12 month high of $76.00.
Waste Management (NYSE:WM) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same period in the previous year, the firm earned $0.74 EPS. Waste Management’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Waste Management, Inc. will post $3.19 earnings per share for the current fiscal year.
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WM has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Friday, April 28th. KeyCorp raised their price target on shares of Waste Management from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $75.24.
In other Waste Management news, Director John C. Pope sold 453 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total value of $252,665.00. Following the completion of the sale, the chief executive officer now owns 151,162 shares in the company, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Insiders sold a total of 7,940 shares of company stock worth $575,603 in the last 90 days. Company insiders own 0.19% of the company’s stock.
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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