Waste Management, Inc. (NYSE:WM) Position Cut by State of Michigan Retirement System

State of Michigan Retirement System lowered its position in shares of Waste Management, Inc. (NYSE:WM) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 99,988 shares of the business services provider’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Waste Management were worth $21,331,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. ARS Wealth Advisors Group LLC grew its stake in shares of Waste Management by 3.1% in the second quarter. ARS Wealth Advisors Group LLC now owns 1,577 shares of the business services provider’s stock worth $336,000 after acquiring an additional 47 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in Waste Management by 29.7% in the 1st quarter. McClarren Financial Advisors Inc. now owns 214 shares of the business services provider’s stock worth $46,000 after purchasing an additional 49 shares during the last quarter. Mayflower Financial Advisors LLC increased its holdings in shares of Waste Management by 1.2% during the 1st quarter. Mayflower Financial Advisors LLC now owns 4,273 shares of the business services provider’s stock worth $911,000 after purchasing an additional 50 shares during the period. Cypress Asset Management Inc. TX lifted its stake in shares of Waste Management by 1.2% in the first quarter. Cypress Asset Management Inc. TX now owns 4,256 shares of the business services provider’s stock valued at $907,000 after buying an additional 50 shares during the period. Finally, GYL Financial Synergies LLC grew its position in Waste Management by 3.8% during the second quarter. GYL Financial Synergies LLC now owns 1,362 shares of the business services provider’s stock worth $290,000 after buying an additional 50 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Michael J. Watson sold 1,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Waste Management Stock Down 0.5 %

NYSE WM opened at $208.87 on Tuesday. The stock has a market capitalization of $83.82 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 2.35 and a beta of 0.74. Waste Management, Inc. has a 52 week low of $149.71 and a 52 week high of $225.00. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.03 and a current ratio of 1.07. The stock has a fifty day moving average of $209.67 and a 200-day moving average of $208.06.

Waste Management (NYSE:WM) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. The firm had revenue of $5.40 billion during the quarter, compared to analyst estimates of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.51 earnings per share. On average, equities research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WM. The Goldman Sachs Group raised Waste Management to a “strong-buy” rating in a report on Friday, July 26th. BMO Capital Markets dropped their price target on shares of Waste Management from $215.00 to $213.00 and set a “market perform” rating for the company in a research report on Friday, July 26th. StockNews.com lowered Waste Management from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. CIBC reduced their target price on shares of Waste Management from $223.00 to $213.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, TD Cowen lifted their price target on shares of Waste Management from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, April 29th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.83.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.