Insider Selling: Waste Management, Inc. (WM) VP Sells 24,500 Shares of Stock

Waste Management, Inc. (NYSE:WM) VP Jeff M. Harris sold 24,500 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of Waste Management stock opened at $90.46 on Friday. Waste Management, Inc. has a 12-month low of $78.33 and a 12-month high of $92.85. The firm has a market cap of $38.13 billion, a P/E ratio of 28.09, a P/E/G ratio of 1.82 and a beta of 0.64. 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 announced its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $3.82 billion. On average, equities analysts anticipate that Waste Management, Inc. will post 4.13 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its position in Waste Management by 6.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 163,299 shares of the business services provider’s stock worth $13,283,000 after purchasing an additional 9,319 shares during the last quarter. Berkshire Asset Management LLC PA boosted its position in Waste Management by 5.4% in the third quarter. Berkshire Asset Management LLC PA now owns 357,716 shares of the business services provider’s stock worth $32,323,000 after purchasing an additional 18,440 shares during the last quarter. Schroder Investment Management Group boosted its position in Waste Management by 97.0% in the second quarter. Schroder Investment Management Group now owns 210,343 shares of the business services provider’s stock worth $16,990,000 after purchasing an additional 103,546 shares during the last quarter. New England Asset Management Inc. boosted its position in Waste Management by 270.5% in the second quarter. New England Asset Management Inc. now owns 7,409 shares of the business services provider’s stock worth $603,000 after purchasing an additional 5,409 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Waste Management by 73.2% in the second quarter. Envestnet Asset Management Inc. now owns 37,701 shares of the business services provider’s stock worth $3,066,000 after purchasing an additional 15,932 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on the company. 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 report on Thursday, September 20th. ValuEngine upgraded Waste Management from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. BMO Capital Markets upped their price target on Waste Management to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 8th. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating and set a $95.00 price target on shares of Waste Management in a report on Thursday, October 25th. Finally, Raymond James reiterated a “buy” rating on shares of Waste Management in a report on Monday, October 29th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $95.50.

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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.

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