Pendal Group Ltd cut its position in Waste Management, Inc. (NYSE:WM) by 8.3% in the second quarter, HoldingsChannel.com reports. The firm owned 107,274 shares of the business services provider’s stock after selling 9,695 shares during the quarter. Pendal Group Ltd’s holdings in Waste Management were worth $12,376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WM. Nordea Investment Management AB increased its stake in shares of Waste Management by 22.9% in the first quarter. Nordea Investment Management AB now owns 2,936,324 shares of the business services provider’s stock worth $305,112,000 after purchasing an additional 547,291 shares in the last quarter. FMR LLC boosted its position in shares of Waste Management by 136.9% during the fourth quarter. FMR LLC now owns 817,457 shares of the business services provider’s stock worth $72,745,000 after acquiring an additional 472,388 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Waste Management by 14.9% during the first quarter. California Public Employees Retirement System now owns 2,894,015 shares of the business services provider’s stock worth $300,717,000 after acquiring an additional 374,826 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Waste Management by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 5,208,586 shares of the business services provider’s stock worth $462,699,000 after acquiring an additional 326,408 shares during the last quarter. Finally, Thoroughbred Financial Services LLC boosted its position in shares of Waste Management by 12,605.8% during the second quarter. Thoroughbred Financial Services LLC now owns 298,204 shares of the business services provider’s stock worth $29,820,000 after acquiring an additional 295,857 shares during the last quarter. 73.43% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Waste Management in a research report on Monday, July 22nd. They set an “outperform” rating for the company. Oppenheimer restated a “market perform” rating on shares of Waste Management in a research report on Thursday, July 18th. Argus upped their target price on shares of Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James set a $127.00 target price on shares of Waste Management and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, KeyCorp upped their target price on shares of Waste Management from $112.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $113.91.

WM stock traded up $1.40 during trading on Tuesday, hitting $119.13. 45,026 shares of the company’s stock traded hands, compared to its average volume of 1,658,645. Waste Management, Inc. has a 52 week low of $83.22 and a 52 week high of $119.56. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.70 and a quick ratio of 1.66. The firm has a fifty day simple moving average of $117.05. The firm has a market capitalization of $50.51 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.21 and a beta of 0.62.

Waste Management (NYSE:WM) last released its quarterly earnings data 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. Waste Management had a net margin of 11.49% and a return on equity of 29.15%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the business earned $1.01 earnings per share. Waste Management’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts expect that Waste Management, Inc. will post 4.33 earnings per share for the current year.

In other news, Director Patrick W. Gross sold 289 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $118.61, for a total value of $34,278.29. Following the completion of the sale, the director now owns 53,378 shares in the company, valued at approximately $6,331,164.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James C. Fish, Jr. sold 84,314 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $116.51, for a total transaction of $9,823,424.14. Following the completion of the sale, the chief executive officer now owns 282,921 shares of the company’s stock, 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.

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

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