Watch Point Trust Co increased its holdings in Waste Management, Inc. (NYSE:WM) by 15.5% in the 3rd quarter, Holdings Channel reports. The fund owned 38,676 shares of the business services provider’s stock after purchasing an additional 5,190 shares during the period. Waste Management makes up about 2.4% of Watch Point Trust Co’s portfolio, making the stock its 10th biggest position. Watch Point Trust Co’s holdings in Waste Management were worth $4,447,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in WM. Valeo Financial Advisors LLC grew its stake in shares of Waste Management by 1.7% during the second quarter. Valeo Financial Advisors LLC now owns 5,111 shares of the business services provider’s stock worth $590,000 after purchasing an additional 86 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of Waste Management by 1.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 6,022 shares of the business services provider’s stock valued at $695,000 after acquiring an additional 87 shares during the last quarter. 6 Meridian lifted its stake in shares of Waste Management by 1.7% in the 2nd quarter. 6 Meridian now owns 5,181 shares of the business services provider’s stock valued at $598,000 after acquiring an additional 88 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of Waste Management by 2.8% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,247 shares of the business services provider’s stock valued at $373,000 after acquiring an additional 89 shares during the last quarter. Finally, Hanseatic Management Services Inc. lifted its stake in shares of Waste Management by 1.2% in the 2nd quarter. Hanseatic Management Services Inc. now owns 7,652 shares of the business services provider’s stock valued at $883,000 after acquiring an additional 90 shares during the last quarter. 73.11% of the stock is owned by hedge funds and other institutional investors.
In other Waste Management news, SVP Tara J. Hmmer sold 4,739 shares of Waste Management stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $118.04, for a total transaction of $559,391.56. Following the completion of the transaction, the senior vice president now owns 23,470 shares in the company, valued at approximately $2,770,398.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Charles C. Boettcher sold 589 shares of Waste Management stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $115.95, for a total value of $68,294.55. Following the transaction, 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. Insiders have sold a total of 13,347 shares of company stock valued at $1,585,155 in the last quarter. Company insiders own 0.14% of the company’s stock.
Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4 billion. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. Equities analysts predict that Waste Management, Inc. will post 4.35 EPS for the current fiscal year.
A number of brokerages have recently commented on WM. JPMorgan Chase & Co. began coverage on Waste Management in a research note on Wednesday, August 7th. They issued a “neutral” rating and a $120.00 price target for the company. ValuEngine downgraded Waste Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank initiated coverage on Waste Management in a research note on Monday, July 22nd. They issued an “outperform” rating for the company. Royal Bank of Canada set a $126.00 target price on Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Raymond James set a $127.00 target price on Waste Management and gave the company a “buy” rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Waste Management presently has an average rating of “Buy” and an average 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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