Bessemer Group Inc. Sells 311,729 Shares of Waste Management, Inc. (WM)
Bessemer Group Inc. cut its position in shares of Waste Management, Inc. (NYSE:WM) by 33.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 609,364 shares of the business services provider’s stock after selling 311,729 shares during the period. Bessemer Group Inc.’s holdings in Waste Management were worth $44,697,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nwam LLC purchased a new position in Waste Management during the second quarter worth $447,000. CIBC Asset Management Inc raised its position in Waste Management by 1.3% in the second quarter. CIBC Asset Management Inc now owns 45,039 shares of the business services provider’s stock worth $3,304,000 after buying an additional 569 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its position in Waste Management by 0.5% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 11,006 shares of the business services provider’s stock worth $807,000 after buying an additional 56 shares during the last quarter. Mcrae Capital Management Inc. raised its position in Waste Management by 0.8% in the second quarter. Mcrae Capital Management Inc. now owns 6,267 shares of the business services provider’s stock worth $460,000 after buying an additional 50 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Waste Management by 6.1% in the second quarter. Great West Life Assurance Co. Can now owns 460,135 shares of the business services provider’s stock worth $33,702,000 after buying an additional 26,555 shares during the last quarter. 75.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Waste Management, Inc. (NYSE WM) opened at 75.70 on Wednesday. The stock has a market cap of $33.31 billion, a P/E ratio of 25.92 and a beta of 0.71. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $76.00. The company’s 50-day moving average is $74.61 and its 200-day moving average is $72.99.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.81. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. Waste Management’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. On average, equities research analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current year.
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WM has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock 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 six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $75.51.
In other Waste Management news, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the transaction, the chief executive officer now owns 151,162 shares in the company, valued at approximately $10,912,384.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick W. Gross sold 487 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the transaction, the director now owns 23,222 shares in the company, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. Insiders have sold a total of 4,440 shares of company stock worth $322,728 in the last 90 days. Company insiders own 0.19% of the company’s stock.
Waste Management Company Profile
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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