Hartford Investment Management Co. boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,544 shares of the business services provider’s stock after purchasing an additional 254 shares during the quarter. Hartford Investment Management Co.’s holdings in Waste Management were worth $15,638,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Washington Trust Bank acquired a new position in Waste Management during the 1st quarter worth $28,000. Joseph P. Lucia & Associates LLC acquired a new position in Waste Management during the 1st quarter worth $31,000. Hanson McClain Inc. boosted its position in Waste Management by 51.0% during the 1st quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after acquiring an additional 102 shares during the period. TCI Wealth Advisors Inc. boosted its position in Waste Management by 108.9% during the 1st quarter. TCI Wealth Advisors Inc. now owns 376 shares of the business services provider’s stock worth $39,000 after acquiring an additional 196 shares during the period. Finally, Acima Private Wealth LLC acquired a new position in Waste Management during the 1st quarter worth $39,000. Institutional investors and hedge funds own 73.57% of the company’s stock.
In other news, CEO James C. Fish, Jr. sold 84,314 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $116.51, for a total value of $9,823,424.14. Following the sale, the chief executive officer now owns 282,921 shares of the company’s stock, valued at approximately $32,963,125.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick W. Gross sold 289 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total value of $34,278.29. Following the completion of the sale, the director now directly owns 53,378 shares in the company, valued at approximately $6,331,164.58. The disclosure for this sale can be found here. Insiders sold a total of 85,303 shares of company stock worth $9,930,887 in the last three months. Company insiders own 0.14% of the company’s stock.
WM opened at $116.15 on Monday. Waste Management, Inc. has a one year low of $83.22 and a one year high of $118.89. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95. The stock has a fifty day moving average price of $116.56. The company has a market cap of $49.52 billion, a P/E ratio of 27.65, a PEG ratio of 3.16 and a beta of 0.62.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.04. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts expect that Waste Management, Inc. will post 4.32 earnings per share for the current fiscal year.
WM has been the subject of a number of analyst reports. CIBC reiterated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Argus boosted their price target on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James set a $127.00 price target on Waste Management and gave the stock a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price target on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $113.30.
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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