ING Groep NV Raises Stake in Waste Management, Inc. (NYSE:WM)
ING Groep NV raised its stake in Waste Management, Inc. (NYSE:WM) by 139.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,274 shares of the business services provider’s stock after buying an additional 17,067 shares during the period. ING Groep NV’s holdings in Waste Management were worth $2,147,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Bray Capital Advisors increased its position in shares of Waste Management by 24.6% in the second quarter. Bray Capital Advisors now owns 4,360 shares of the business services provider’s stock valued at $363,000 after buying an additional 860 shares during the period. Parametrica Management Ltd acquired a new position in shares of Waste Management during the second quarter valued at $333,000. Russell Investments Group Ltd. increased its position in shares of Waste Management by 40.2% in the second quarter. Russell Investments Group Ltd. now owns 856,007 shares of the business services provider’s stock valued at $62,795,000 after buying an additional 245,618 shares during the period. Sadoff Investment Management LLC increased its position in shares of Waste Management by 2.1% in the second quarter. Sadoff Investment Management LLC now owns 480,705 shares of the business services provider’s stock valued at $35,260,000 after buying an additional 10,000 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new position in shares of Waste Management during the second quarter valued at $4,417,000. Institutional investors own 75.59% of the company’s stock.
Shares of Waste Management, Inc. (NYSE:WM) traded up 0.234% during midday trading on Friday, hitting $74.985. 431,476 shares of the stock were exchanged. Waste Management, Inc. has a one year low of $61.08 and a one year high of $76.00. The firm has a 50 day moving average of $74.45 and a 200-day moving average of $72.82. The company has a market cap of $33.00 billion, a price-to-earnings ratio of 25.680 and a beta of 0.71.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. Waste Management’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Stifel Nicolaus increased their price target on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Oppenheimer Holdings, Inc. increased their price target on shares of Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. BMO Capital Markets initiated coverage on shares of Waste Management in a report on Thursday, June 29th. They issued an “outperform” rating and a $81.00 price target on the stock. Finally, Credit Suisse Group raised their price objective on shares of Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $75.51.
In other Waste Management news, Director John C. Pope sold 453 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total transaction of $33,694.14. Following the sale, the director now directly owns 51,470 shares in the company, valued at $3,828,338.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total value of $252,665.00. Following the sale, the chief executive officer now owns 151,162 shares in the company, valued at $10,912,384.78. The disclosure for this sale can be found here. Insiders have sold 7,940 shares of company stock worth $575,603 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
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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