South Texas Money Management Ltd. Takes $3.37 Million Position in Waste Management, Inc. (WM)

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South Texas Money Management Ltd. bought a new position in Waste Management, Inc. (NYSE:WM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 41,485 shares of the business services provider’s stock, valued at approximately $3,374,000.

A number of other hedge funds have also recently modified their holdings of WM. HL Financial Services LLC raised its position in shares of Waste Management by 29.3% in the 1st quarter. HL Financial Services LLC now owns 4,765 shares of the business services provider’s stock valued at $401,000 after acquiring an additional 1,081 shares during the period. FDx Advisors Inc. raised its position in shares of Waste Management by 164.8% in the 1st quarter. FDx Advisors Inc. now owns 10,101 shares of the business services provider’s stock valued at $850,000 after acquiring an additional 6,287 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Waste Management in the 1st quarter valued at approximately $3,163,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of Waste Management by 359.7% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 89,128 shares of the business services provider’s stock valued at $7,382,000 after acquiring an additional 69,740 shares during the period. Finally, Johanson Financial Advisors Inc. raised its position in shares of Waste Management by 16.2% in the 1st quarter. Johanson Financial Advisors Inc. now owns 4,748 shares of the business services provider’s stock valued at $400,000 after acquiring an additional 663 shares during the period. Institutional investors own 75.33% of the company’s stock.

A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Waste Management from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. ValuEngine upgraded shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $93.00 price target on shares of Waste Management in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and an average price target of $91.22.

In other Waste Management news, Director Patrick W. Gross sold 406 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $83.22, for a total transaction of $33,787.32. Following the sale, the director now directly owns 24,149 shares in the company, valued at approximately $2,009,679.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Shares of WM stock opened at $91.34 on Monday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.72 and a current ratio of 0.75. The company has a market cap of $38.56 billion, a price-to-earnings ratio of 28.37, a P/E/G ratio of 1.85 and a beta of 0.73. Waste Management, Inc. has a 52 week low of $75.20 and a 52 week high of $91.48.

Waste Management (NYSE:WM) last announced its earnings results on Wednesday, July 25th. The business services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.99 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.76 billion. Waste Management had a net margin of 14.94% and a return on equity of 27.38%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. analysts forecast that Waste Management, Inc. will post 4.08 EPS for the current 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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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