DekaBank Deutsche Girozentrale Sells 39,743 Shares of Waste Management, Inc. (NYSE:WM)

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DekaBank Deutsche Girozentrale cut its position in shares of Waste Management, Inc. (NYSE:WM) by 6.5% in the second quarter, HoldingsChannel reports. The firm owned 568,816 shares of the business services provider’s stock after selling 39,743 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Waste Management were worth $66,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WM. Geode Capital Management LLC raised its position in shares of Waste Management by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after acquiring an additional 326,408 shares in the last quarter. Northern Trust Corp increased its position in Waste Management by 1.4% during the 1st quarter. Northern Trust Corp now owns 5,096,397 shares of the business services provider’s stock valued at $529,567,000 after buying an additional 72,356 shares in the last quarter. Nordea Investment Management AB increased its position in Waste Management by 22.9% during the 1st quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock valued at $305,112,000 after buying an additional 547,291 shares in the last quarter. California Public Employees Retirement System increased its position in Waste Management by 14.9% during the 1st quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock valued at $300,717,000 after buying an additional 374,826 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in Waste Management by 1.1% during the 1st quarter. Pictet Asset Management Ltd. now owns 2,822,806 shares of the business services provider’s stock valued at $293,318,000 after buying an additional 30,453 shares in the last quarter. 73.43% of the stock is owned by institutional investors and hedge funds.

In other news, Director Patrick W. Gross sold 289 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the sale, the director now owns 53,378 shares in the company, valued at $6,331,164.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James C. Fish, Jr. sold 84,314 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $116.51, for a total value of $9,823,424.14. Following the completion of the sale, the chief executive officer now owns 282,921 shares in the company, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Waste Management stock opened at $119.02 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95. The company’s 50-day moving average price is $117.09. The stock has a market cap of $50.51 billion, a P/E ratio of 28.34, a PEG ratio of 3.21 and a beta of 0.62. Waste Management, Inc. has a fifty-two week low of $83.22 and a fifty-two week high of $119.56.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. Analysts expect that Waste Management, Inc. will post 4.33 EPS for the current fiscal year.

Several research analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Waste Management from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. assumed coverage on Waste Management in a research report on Wednesday, August 7th. They set a “neutral” rating and a $120.00 target price on the stock. Royal Bank of Canada set a $126.00 target price on Waste Management and gave the company a “buy” rating in a research report on Friday, July 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Finally, Raymond James set a $127.00 target price on Waste Management and gave the company a “buy” rating in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $113.91.

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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