Weatherly Asset Management L. P. Has $5.86 Million Position in Waste Management, Inc. (WM)
Weatherly Asset Management L. P. reduced its position in shares of Waste Management, Inc. (NYSE:WM) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,894 shares of the business services provider’s stock after selling 1,525 shares during the period. Waste Management accounts for 1.6% of Weatherly Asset Management L. P.’s portfolio, making the stock its 13th largest position. Weatherly Asset Management L. P.’s holdings in Waste Management were worth $5,860,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new stake in shares of Waste Management during the second quarter valued at approximately $103,000. Guardian Life Insurance Co. of America raised 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 valued at $114,000 after buying an additional 14 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Waste Management by 25.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the business services provider’s stock valued at $124,000 after buying an additional 340 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Waste Management during the first quarter valued at approximately $127,000. Finally, Parallel Advisors LLC raised 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 valued at $130,000 after buying an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 75.53% of the company’s stock.
Waste Management, Inc. (NYSE WM) opened at 75.70 on Wednesday. Waste Management, Inc. has a 1-year low of $61.08 and a 1-year high of $76.00. The firm has a market cap of $33.31 billion, a P/E ratio of 25.92 and a beta of 0.71. The stock’s 50 day moving average price is $74.61 and its 200 day moving average price is $72.99.
Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts predict that Waste Management, Inc. will post $3.19 EPS for the current year.
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WM has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Waste Management from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Thursday, June 22nd. Stifel Nicolaus boosted their target price on shares of Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $75.51.
In related news, CEO James C. Fish, Jr. sold 3,500 shares of the firm’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 transaction, the chief executive officer now owns 151,162 shares of the company’s stock, valued at $10,912,384.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Pope sold 453 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The disclosure for this sale can be found here. Insiders have sold 4,440 shares of company stock valued at $322,728 in the last ninety days. Company insiders own 0.19% of the company’s stock.
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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