Westchester Capital Management Inc. Has $9.45 Million Holdings in Waste Management, Inc. (WM)

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Westchester Capital Management Inc. lessened its holdings in shares of Waste Management, Inc. (NYSE:WM) by 0.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 104,531 shares of the business services provider’s stock after selling 665 shares during the period. Waste Management accounts for 3.7% of Westchester Capital Management Inc.’s portfolio, making the stock its 14th largest position. Westchester Capital Management Inc.’s holdings in Waste Management were worth $9,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WM. Kiley Juergens Wealth Management LLC bought a new position in shares of Waste Management during the second quarter worth $100,000. Point72 Hong Kong Ltd boosted its position in shares of Waste Management by 1,095.4% during the second quarter. Point72 Hong Kong Ltd now owns 1,303 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,194 shares in the last quarter. Braun Bostich & Associates Inc. boosted its position in shares of Waste Management by 546.0% during the second quarter. Braun Bostich & Associates Inc. now owns 1,447 shares of the business services provider’s stock worth $118,000 after purchasing an additional 1,223 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Waste Management by 15.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 112,038 shares of the business services provider’s stock worth $128,000 after purchasing an additional 14,720 shares in the last quarter. Finally, Vigilant Capital Management LLC boosted its position in shares of Waste Management by 200.0% during the third quarter. Vigilant Capital Management LLC now owns 1,500 shares of the business services provider’s stock worth $136,000 after purchasing an additional 1,000 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

WM traded up $0.38 during trading on Friday, hitting $90.27. The company had a trading volume of 146,002 shares, compared to its average volume of 2,332,738. The stock has a market capitalization of $37.45 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.78 and a beta of 0.64. Waste Management, Inc. has a one year low of $78.33 and a one year high of $92.85. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.53.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.11 by $0.04. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. On average, equities research analysts predict that Waste Management, Inc. will post 4.13 EPS for the current fiscal year.

In other Waste Management news, VP Jeff M. Harris sold 24,500 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $90.00, for a total transaction of $2,205,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

A number of equities analysts have recently weighed in on WM shares. Oppenheimer reissued a “buy” rating and set a $95.00 price target on shares of Waste Management in a research report on Thursday, October 25th. Zacks Investment Research raised shares of Waste Management from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Friday, October 19th. ValuEngine raised shares of Waste Management from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. BMO Capital Markets reaffirmed a “buy” rating and issued a $93.00 price objective on shares of Waste Management in a research report on Thursday, July 26th. Finally, Raymond James reaffirmed a “buy” rating on shares of Waste Management in a research report on Monday, October 29th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $95.50.

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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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