Hayek Kallen Investment Management reduced its position in Waste Management, Inc. (NYSE:WM) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,452 shares of the business services provider’s stock after selling 1,248 shares during the quarter. Waste Management accounts for approximately 3.6% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 6th largest holding. Hayek Kallen Investment Management’s holdings in Waste Management were worth $5,687,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Krane Funds Advisors LLC bought a new position in Waste Management in the second quarter worth about $25,000. Howe & Rusling Inc. grew its stake in shares of Waste Management by 139.6% during the third quarter. Howe & Rusling Inc. now owns 218 shares of the business services provider’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Financial Gravity Wealth Inc. boosted its position in Waste Management by 133.1% in the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock valued at $33,000 after buying an additional 161 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Waste Management by 146.8% in the third quarter. Candriam Luxembourg S.C.A. now owns 273,777 shares of the business services provider’s stock valued at $34,000 after buying an additional 162,829 shares during the last quarter. Finally, Personal Wealth Partners purchased a new stake in Waste Management in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.11% of the company’s stock.
Shares of WM stock traded up $0.68 during trading hours on Friday, hitting $111.03. 1,205,702 shares of the company’s stock were exchanged, compared to its average volume of 1,771,314. The company has a quick ratio of 1.82, a current ratio of 1.86 and a debt-to-equity ratio of 1.94. The firm has a market cap of $45.95 billion, a P/E ratio of 26.44, a P/E/G ratio of 3.02 and a beta of 0.60. The firm has a 50 day moving average of $114.16 and a two-hundred day moving average of $113.97. Waste Management, Inc. has a fifty-two week low of $83.49 and a fifty-two week high of $121.77.
Waste Management (NYSE:WM) last announced its earnings results on Wednesday, October 23rd. The business services provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.05. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4 billion. Waste Management had a return on equity of 28.63% and a net margin of 11.35%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 EPS. On average, equities analysts forecast that Waste Management, Inc. will post 4.35 earnings per share for the current fiscal year.
WM has been the topic of a number of recent research reports. Raymond James set a $127.00 target price on Waste Management and gave the company a “buy” rating in a research report on Friday, July 26th. Bank of America lowered Waste Management from a “buy” rating to a “neutral” rating in a research report on Friday, October 18th. ValuEngine lowered Waste Management from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. CIBC reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Finally, Macquarie reaffirmed an “outperform” rating and set a $130.00 target price on shares of Waste Management in a research note on Wednesday, September 4th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $116.82.
In other Waste Management news, SVP Charles C. Boettcher sold 589 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $115.95, for a total value of $68,294.55. Following the completion of the sale, the senior vice president now directly owns 3,147 shares in the company, valued at approximately $364,894.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael J. Watson sold 8,019 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $119.40, for a total value of $957,468.60. Following the completion of the sale, the vice president now owns 17,254 shares of the company’s stock, valued at $2,060,127.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,347 shares of company stock valued at $1,585,155. 0.14% of the stock is owned by corporate insiders.
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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