Russell Investments Group Ltd. cut its position in shares of Waste Management, Inc. (NYSE:WM) by 15.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 663,115 shares of the business services provider’s stock after selling 124,581 shares during the quarter. Russell Investments Group Ltd.’s holdings in Waste Management were worth $53,750,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of WM. Acadian Asset Management LLC purchased a new stake in shares of Waste Management in the second quarter worth approximately $125,649,000. Millennium Management LLC lifted its position in shares of Waste Management by 197.1% in the first quarter. Millennium Management LLC now owns 2,182,980 shares of the business services provider’s stock worth $183,632,000 after purchasing an additional 1,448,281 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Waste Management by 60.1% in the first quarter. JPMorgan Chase & Co. now owns 2,488,298 shares of the business services provider’s stock worth $209,315,000 after purchasing an additional 934,344 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Waste Management by 133.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,474,839 shares of the business services provider’s stock worth $124,064,000 after purchasing an additional 842,995 shares in the last quarter. Finally, Dana Investment Advisors Inc. purchased a new stake in shares of Waste Management in the second quarter worth approximately $35,468,000. 75.33% of the stock is owned by institutional investors.
In related news, Director Patrick W. Gross sold 406 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $83.22, for a total value of $33,787.32. Following the transaction, the director now owns 24,149 shares in the company, valued at $2,009,679.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.
WM has been the subject of a number of research analyst reports. ValuEngine raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Zacks Investment Research lowered shares of Waste Management from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $93.00 price target on shares of Waste Management in a research report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.22.
NYSE:WM opened at $91.34 on Monday. Waste Management, Inc. has a 52 week low of $75.20 and a 52 week high of $91.48. The company has a market capitalization of $38.56 billion, a P/E ratio of 28.37, a PEG ratio of 1.85 and a beta of 0.73. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.72 and a current ratio of 0.75.
Waste Management (NYSE:WM) last released its quarterly earnings data on Wednesday, July 25th. The business services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. Waste Management had a return on equity of 27.38% and a net margin of 14.94%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the company posted $0.81 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. sell-side analysts anticipate that Waste Management, Inc. will post 4.08 EPS for the current year.
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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