Avitas Wealth Management LLC grew its stake in shares of Waste Management, Inc. (NYSE:WM) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,146 shares of the business services provider’s stock after acquiring an additional 355 shares during the quarter. Avitas Wealth Management LLC’s holdings in Waste Management were worth $2,432,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC purchased a new stake in shares of Waste Management during the 2nd quarter worth about $25,000. Financial Gravity Wealth Inc. boosted its holdings in Waste Management by 133.1% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after acquiring an additional 161 shares during the period. Personal Wealth Partners purchased a new position in Waste Management in the 2nd quarter worth approximately $35,000. Next Capital Management LLC boosted its holdings in Waste Management by 119.6% in the 2nd quarter. Next Capital Management LLC now owns 325 shares of the business services provider’s stock worth $37,000 after acquiring an additional 177 shares during the period. Finally, Coastal Capital Group Inc. purchased a new position in Waste Management in the 2nd quarter worth approximately $39,000. 73.24% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the company. CIBC restated a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. JPMorgan Chase & Co. assumed coverage on Waste Management in a report on Wednesday, August 7th. They issued a “neutral” rating and a $120.00 price target for the company. ValuEngine cut Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Oppenheimer restated a “market perform” rating on shares of Waste Management in a report on Thursday, July 18th. Finally, Stifel Nicolaus upped their price target on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Waste Management presently has a consensus rating of “Buy” and an average price target of $116.82.
NYSE WM opened at $117.05 on Monday. The stock has a market cap of $49.33 billion, a PE ratio of 27.87, a P/E/G ratio of 3.14 and a beta of 0.61. Waste Management, Inc. has a fifty-two week low of $83.22 and a fifty-two week high of $121.77. The business has a 50 day moving average price of $115.90 and a two-hundred day moving average price of $113.02. The company has a quick ratio of 1.66, a current ratio of 1.70 and a debt-to-equity ratio of 1.95.
Waste Management (NYSE:WM) last released its earnings results on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 4.32 EPS for the current fiscal year.
In other news, SVP Tara J. Hmmer sold 4,739 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $118.04, for a total transaction of $559,391.56. Following the completion of the transaction, the senior vice president now directly owns 23,470 shares in the company, valued at approximately $2,770,398.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael J. Watson sold 8,019 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $119.40, for a total value of $957,468.60. Following the transaction, the vice president now owns 17,254 shares of the company’s stock, valued at $2,060,127.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,347 shares of company stock valued at $1,585,155. Company insiders own 0.14% of the company’s stock.
Waste Management Company 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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