Trustcore Financial Services LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM) by 608.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,975 shares of the business services provider’s stock after acquiring an additional 4,273 shares during the period. Trustcore Financial Services LLC’s holdings in Waste Management were worth $574,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Washington Trust Bank bought a new position in Waste Management in the first quarter worth about $28,000. Joseph P. Lucia & Associates LLC bought a new position in Waste Management in the first quarter worth about $31,000. Hanson McClain Inc. lifted its holdings in Waste Management by 51.0% in the first 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 last quarter. TCI Wealth Advisors Inc. lifted its holdings in Waste Management by 108.9% in the first 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 last quarter. Finally, Acima Private Wealth LLC bought a new position in Waste Management in the first quarter worth about $39,000. Institutional investors own 73.57% of the company’s stock.
In related news, CEO James C. Fish, Jr. sold 84,314 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the sale, the chief executive officer now owns 282,921 shares of the company’s stock, valued at $32,963,125.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 289 shares of the business’s stock in a transaction that occurred 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 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. In the last ninety days, insiders have sold 85,303 shares of company stock worth $9,930,887. Corporate insiders own 0.14% of the company’s stock.
A number of brokerages have issued reports on WM. Raymond James set a $127.00 target price on shares of Waste Management and gave the stock a “buy” rating in a report on Friday, July 26th. Stifel Nicolaus raised their target price on shares of Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, July 8th. KeyCorp raised their target price on shares of Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. Argus raised their target price on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Waste Management has a consensus rating of “Buy” and an average target price of $113.30.
Shares of WM traded down $2.48 during mid-day trading on Monday, reaching $114.25. 68,295 shares of the company’s stock traded hands, compared to its average volume of 1,558,797. The firm’s 50-day simple moving average is $116.56. The company has a market cap of $49.52 billion, a PE ratio of 27.26, a P/E/G ratio of 3.16 and a beta of 0.62. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95. Waste Management, Inc. has a 12 month low of $83.22 and a 12 month high of $118.89.
Waste Management (NYSE:WM) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, analysts expect that Waste Management, Inc. will post 4.32 EPS for the current fiscal year.
About Waste Management
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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