Stephens Inc. AR Reduces Stock Holdings in Waste Management, Inc. (NYSE:WM)

Stephens Inc. AR trimmed its position in Waste Management, Inc. (NYSE:WM) by 0.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 152,599 shares of the business services provider’s stock after selling 87 shares during the period. Stephens Inc. AR’s holdings in Waste Management were worth $17,605,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC purchased a new position in Waste Management in the first quarter worth about $31,000. Hanson McClain Inc. boosted its position in Waste Management by 51.0% in the first quarter. Hanson McClain Inc. now owns 302 shares of the business services provider’s stock worth $31,000 after purchasing an additional 102 shares during the last quarter. Financial Gravity Wealth Inc. boosted its position in Waste Management by 133.1% in the second quarter. Financial Gravity Wealth Inc. now owns 282 shares of the business services provider’s stock worth $33,000 after purchasing an additional 161 shares during the last quarter. Personal Wealth Partners purchased a new position in Waste Management in the second quarter worth about $35,000. Finally, Acima Private Wealth LLC purchased a new position in Waste Management in the first quarter worth about $39,000. 73.43% of the stock is currently owned by institutional investors and hedge funds.

WM has been the topic of several research reports. KeyCorp raised their target price on Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Oppenheimer reissued a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Stifel Nicolaus raised their price objective on Waste Management from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Royal Bank of Canada set a $126.00 price objective on Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, CIBC reaffirmed a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $113.91.

In related news, Director Patrick W. Gross sold 289 shares of Waste Management stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total transaction of $34,278.29. Following the sale, the director now owns 53,378 shares of the company’s stock, valued at approximately $6,331,164.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James C. Fish, Jr. sold 84,314 shares of Waste Management stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the sale, the chief executive officer now directly owns 282,921 shares in the company, valued at approximately $32,963,125.71. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Shares of NYSE WM traded down $2.49 during trading on Wednesday, hitting $116.53. The company had a trading volume of 42,987 shares, compared to its average volume of 1,729,105. The company has a 50 day simple moving average of $117.09. 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, Inc. has a 12 month low of $83.22 and a 12 month high of $119.56. The company has a market capitalization of $50.34 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 3.21 and a beta of 0.62.

Waste Management (NYSE:WM) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Waste Management, Inc. will post 4.33 EPS for the current fiscal year.

Waste Management 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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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