Pendal Group Ltd lowered its position in Waste Management, Inc. (NYSE:WM) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,274 shares of the business services provider’s stock after selling 9,695 shares during the quarter. Pendal Group Ltd’s holdings in Waste Management were worth $12,376,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Waste Management in the 1st quarter valued at about $31,000. Hanson McClain Inc. boosted its position in Waste Management by 51.0% during the first quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 102 shares during the last quarter. Financial Gravity Wealth Inc. boosted its position in Waste Management by 133.1% during the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. Personal Wealth Partners bought a new position in shares of Waste Management during the 2nd quarter worth about $35,000. Finally, Acima Private Wealth LLC bought a new position in shares of Waste Management during the 1st quarter worth about $39,000. Institutional investors own 73.43% of the company’s stock.

WM traded up $1.40 on Tuesday, hitting $119.13. The company’s stock had a trading volume of 45,026 shares, compared to its average volume of 1,658,645. The stock’s 50 day simple moving average is $117.05. The stock has a market cap of $50.51 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 3.21 and a beta of 0.62. Waste Management, Inc. has a 12 month low of $83.22 and a 12 month high of $119.56. The company has a current ratio of 1.70, a quick ratio of 1.66 and a debt-to-equity ratio of 1.95.

Waste Management (NYSE:WM) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.94 billion. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. Waste Management’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS. Research analysts anticipate that Waste Management, Inc. will post 4.33 EPS for the current year.

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

Several equities research analysts have commented on WM shares. JPMorgan Chase & Co. started coverage on shares of Waste Management in a research note on Wednesday, August 7th. They issued a “neutral” rating and a $120.00 price objective for the company. Oppenheimer restated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Scotiabank started coverage on shares of Waste Management in a research note on Monday, July 22nd. They set an “outperform” rating for the company. CIBC restated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Finally, Raymond James set a $127.00 price target on shares of Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Waste Management presently has an average rating of “Buy” and an average target price 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.

See Also: Intrinsic Value and Stock Selection

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

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