Stoneridge Investment Partners LLC Trims Stake in Waste Management, Inc. (WM)

Stoneridge Investment Partners LLC lowered its holdings in shares of Waste Management, Inc. (NYSE:WM) by 23.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,989 shares of the business services provider’s stock after selling 2,112 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Waste Management were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WM. Kiley Juergens Wealth Management LLC purchased a new stake in Waste Management in the 2nd quarter worth approximately $100,000. Point72 Hong Kong Ltd increased its holdings in Waste Management by 1,095.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after acquiring an additional 1,194 shares in the last quarter. Braun Bostich & Associates Inc. boosted its stake in Waste Management by 546.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after purchasing an additional 1,223 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Waste Management by 15.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock worth $128,000 after purchasing an additional 14,720 shares during the period. Finally, Vigilant Capital Management LLC boosted its stake in Waste Management by 200.0% in the 3rd quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock worth $136,000 after purchasing an additional 1,000 shares during the period. 74.87% of the stock is owned by hedge funds and other institutional investors.

Shares of WM opened at $88.09 on Friday. The firm has a market capitalization of $37.87 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.81 and a beta of 0.70. Waste Management, Inc. has a 52-week low of $78.33 and a 52-week high of $92.85. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53.

Waste Management (NYSE:WM) last released its earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.04. Waste Management had a return on equity of 27.93% and a net margin of 15.60%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. On average, sell-side analysts anticipate that Waste Management, Inc. will post 4.13 earnings per share for the current fiscal year.

Several research firms have weighed in on WM. ValuEngine upgraded Waste Management from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research note on Thursday, September 20th. BMO Capital Markets increased their target price on Waste Management to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. Raymond James reiterated a “buy” rating on shares of Waste Management in a research report on Monday. Finally, Oppenheimer reiterated a “buy” rating and set a $95.00 target price on shares of Waste Management in a research report on Thursday, October 25th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Waste Management presently has an average rating of “Buy” and a consensus target price of $95.50.

Waste Management 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.

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

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