Sumitomo Mitsui Asset Management Company LTD Lowers Stake in Waste Management, Inc. (WM)
Sumitomo Mitsui Asset Management Company LTD reduced its stake in Waste Management, Inc. (NYSE:WM) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,121 shares of the business services provider’s stock after selling 1,802 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Waste Management were worth $2,576,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its position in 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 valued at $100,000 after buying an additional 78 shares during the period. TNB Financial acquired a new position in Waste Management during the first quarter valued at approximately $494,000. Banced Corp increased its position in Waste Management by 1.2% in the first quarter. Banced Corp now owns 5,017 shares of the business services provider’s stock valued at $366,000 after buying an additional 58 shares during the period. Honkamp Krueger Financial Services Inc. increased its position in Waste Management by 1.6% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 10,950 shares of the business services provider’s stock valued at $799,000 after buying an additional 172 shares during the period. Finally, Hall Laurie J Trustee increased its position in Waste Management by 0.5% in the first quarter. Hall Laurie J Trustee now owns 18,380 shares of the business services provider’s stock valued at $1,347,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 75.59% of the company’s stock.
Waste Management, Inc. (NYSE:WM) opened at 74.61 on Friday. The firm has a market cap of $32.83 billion, a P/E ratio of 25.55 and a beta of 0.71. Waste Management, Inc. has a 52 week low of $61.08 and a 52 week high of $76.00. The company’s 50 day moving average is $74.49 and its 200-day moving average is $72.86.
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 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 net margin of 9.18% and a return on equity of 25.07%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Equities analysts expect that Waste Management, Inc. will post $3.19 earnings per share for the current year.
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WM has been the subject of several research reports. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research note on Friday, April 28th. KeyCorp boosted their price target on shares of Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note 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 assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $75.51.
In other Waste Management news, CEO James C. Fish, Jr. sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the transaction, the chief executive officer now directly owns 151,162 shares of the company’s stock, valued at approximately $10,912,384.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $33,694.14. Following the transaction, 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. Over the last three months, insiders have sold 7,940 shares of company stock valued at $575,603. 0.19% of the stock is owned by company 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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