Spinnaker Trust decreased its position in Waste Management, Inc. (NYSE:WM) by 68.4% during the second quarter, Holdings Channel reports. The institutional investor owned 8,725 shares of the business services provider’s stock after selling 18,923 shares during the period. Spinnaker Trust’s holdings in Waste Management were worth $640,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock worth $2,388,388,000 after buying an additional 1,790,546 shares in the last quarter. BlackRock Inc. raised its position in Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares during the last quarter. State Street Corp raised its position in Waste Management by 0.6% in the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock worth $1,552,295,000 after buying an additional 134,152 shares during the last quarter. Wells Fargo & Company MN raised its position in Waste Management by 5.2% in the first quarter. Wells Fargo & Company MN now owns 7,327,831 shares of the business services provider’s stock worth $534,346,000 after buying an additional 362,315 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Waste Management by 10.2% in the first quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock worth $409,399,000 after buying an additional 518,270 shares during the last quarter. Institutional investors own 75.53% of the company’s stock.

Waste Management, Inc. (NYSE WM) opened at 75.55 on Tuesday. The firm has a market capitalization of $33.24 billion, a price-to-earnings ratio of 25.87 and a beta of 0.71. The firm has a 50-day moving average price of $74.55 and a 200-day moving average price of $72.95. Waste Management, Inc. has a one year low of $61.08 and a one year high of $76.00.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $3.68 billion for 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%. Waste Management’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Analysts expect that Waste Management, Inc. will post $3.19 EPS for the current year.

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WM has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. boosted their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, July 5th. Finally, KeyCorp boosted their target price on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Waste Management has a consensus rating of “Hold” and a consensus target price of $75.51.

In other Waste Management news, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $74.68, for a total value of $36,369.16. Following the completion of the sale, the director now directly owns 23,222 shares of the company’s stock, valued at $1,734,218.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Pope sold 453 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the sale, the director now directly 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 sold 4,440 shares of company stock valued at $322,728 over the last three months. 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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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