Waste Management, Inc. $WM Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its position in Waste Management, Inc. (NYSE:WM) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,800 shares of the business services provider’s stock after selling 4,414 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Waste Management were worth $15,334,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WM. Broadway Wealth Solutions Inc. increased its holdings in Waste Management by 2.8% in the 4th quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock worth $349,000 after buying an additional 44 shares during the period. Bey Douglas LLC lifted its stake in Waste Management by 3.7% during the 4th quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock valued at $271,000 after acquiring an additional 44 shares during the period. Birch Hill Investment Advisors LLC boosted its holdings in shares of Waste Management by 0.7% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock valued at $1,341,000 after acquiring an additional 45 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in shares of Waste Management by 1.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock valued at $527,000 after acquiring an additional 45 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its stake in shares of Waste Management by 10.2% in the first quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider’s stock worth $111,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WM shares. Wells Fargo & Company decreased their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Barclays increased their price target on Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce cut Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings upgraded Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 7th. Finally, Citigroup raised their target price on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Waste Management Stock Performance

Shares of NYSE WM opened at $224.73 on Monday. The company has a market capitalization of $89.83 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The company’s fifty day moving average price is $227.62 and its 200 day moving average price is $227.86. Waste Management, Inc. has a 1 year low of $194.11 and a 1 year high of $248.13.

Waste Management (NYSE:WM) last released its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the previous year, the company earned $1.92 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts predict that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Waste Management Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.