Public Employees Retirement Association of Colorado lowered its stake in Waste Management, Inc. (NYSE:WM) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,907 shares of the business services provider’s stock after selling 162 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Waste Management were worth $6,008,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after buying an additional 1,790,546 shares during the period. BlackRock Inc. boosted its stake in Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock valued at $2,199,436,000 after buying an additional 29,049,915 shares during the period. State Street Corp boosted its stake in Waste Management by 0.6% in the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock valued at $1,552,295,000 after buying an additional 134,152 shares during the period. Wells Fargo & Company MN boosted its stake in Waste Management by 5.2% in the first quarter. Wells Fargo & Company MN now owns 7,327,831 shares of the business services provider’s stock valued at $534,346,000 after buying an additional 362,315 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Waste Management by 10.2% in the first quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock valued at $409,399,000 after buying an additional 518,270 shares during the period. Institutional investors and hedge funds own 75.59% of the company’s stock.
Waste Management, Inc. (NYSE:WM) opened at 74.61 on Friday. The stock has a market cap of $32.83 billion, a PE ratio of 25.55 and a beta of 0.71. The firm has a 50-day moving average price of $74.49 and a 200 day moving average price of $72.86. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $76.00.
Waste Management (NYSE:WM) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.81 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post $3.19 earnings per share for the current year.
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WM has been the subject of several analyst reports. Oppenheimer Holdings, Inc. upped their price target on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Waste Management from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Thursday, June 22nd. BMO Capital Markets initiated coverage on Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 price target for the company. Stifel Nicolaus upped their price target on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, Credit Suisse Group increased their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $75.51.
In other news, Director John C. Pope sold 453 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the sale, the director now owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $72.19, for a total value of $252,665.00. Following the completion of the sale, the chief executive officer now directly owns 151,162 shares in the company, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. Insiders sold a total of 7,940 shares of company stock worth $575,603 in the last three months. Company insiders own 0.19% of the company’s stock.
Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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