Moloney Securities Asset Management LLC Reduces Position in Waste Management, Inc. (NYSE:WM)
Moloney Securities Asset Management LLC cut its position in shares of Waste Management, Inc. (NYSE:WM) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,298 shares of the business services provider’s stock after selling 331 shares during the period. Moloney Securities Asset Management LLC’s holdings in Waste Management were worth $755,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WM. Quadrant Capital Group LLC increased its stake in shares of 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 period. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management during the second quarter worth about $103,000. Guardian Life Insurance Co. of America increased its stake in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of Waste Management during the first quarter worth about $127,000. Finally, Parallel Advisors LLC increased its stake in shares of Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock worth $130,000 after buying an additional 493 shares during the period. Institutional investors own 75.59% of the company’s stock.
Shares of Waste Management, Inc. (WM) traded down 0.166% during mid-day trading on Thursday, hitting $75.105. The company had a trading volume of 641,288 shares. The company has a market cap of $33.05 billion, a PE ratio of 25.721 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 firm has a 50-day moving average of $74.41 and a 200-day moving average of $72.81.
Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. On average, analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.
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WM has been the subject of a number of recent research reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Friday, April 28th. KeyCorp raised their target price on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, May 11th. Oppenheimer Holdings, Inc. raised their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group raised their target price on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $75.24.
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 stock was sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the sale, the chief executive officer now directly owns 151,162 shares in the company, valued at $10,912,384.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John C. Pope sold 453 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,828,338.60. The disclosure for this sale can be found here. Insiders have sold 7,940 shares of company stock valued at $575,603 over the last 90 days. 0.19% of the stock is currently owned by insiders.
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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