Illinois Municipal Retirement Fund bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the fourth quarter, Holdings Channel reports. The fund bought 6,104 shares of the business services provider’s stock, valued at approximately $696,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Sunbelt Securities Inc. purchased a new position in Waste Management in the 3rd quarter worth approximately $508,000. Private Asset Management Inc. grew its stake in Waste Management by 4.6% in the 4th quarter. Private Asset Management Inc. now owns 2,266 shares of the business services provider’s stock worth $258,000 after buying an additional 100 shares in the last quarter. Great Lakes Advisors LLC grew its stake in Waste Management by 10.5% in the 3rd quarter. Great Lakes Advisors LLC now owns 56,222 shares of the business services provider’s stock worth $6,466,000 after buying an additional 5,361 shares in the last quarter. Greystone Managed Investments Inc. grew its stake in Waste Management by 12.5% in the 3rd quarter. Greystone Managed Investments Inc. now owns 75,067 shares of the business services provider’s stock worth $8,633,000 after buying an additional 8,341 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Waste Management in the 4th quarter worth approximately $375,000. 72.65% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Stifel Nicolaus set a $125.00 price target on shares of Waste Management and gave the stock a “buy” rating in a research note on Monday, October 21st. CIBC assumed coverage on shares of Waste Management in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $130.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Waste Management in a research note on Wednesday, November 27th. They issued a “hold” rating and a $120.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $138.00 price target on shares of Waste Management in a research note on Friday. Finally, Bank of America cut shares of Waste Management from a “buy” rating to a “neutral” rating in a research note on Friday, October 18th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $123.85.
Waste Management (NYSE:WM) last announced its quarterly earnings data on Thursday, February 13th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. Waste Management had a net margin of 11.35% and a return on equity of 28.63%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The firm’s revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that Waste Management, Inc. will post 4.39 earnings per share for the current fiscal year.
In other Waste Management news, Director Frank M. Clark sold 267 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $119.69, for a total transaction of $31,957.23. Following the completion of the sale, the director now owns 32,396 shares of the company’s stock, valued at approximately $3,877,477.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Tara J. Hmmer sold 4,639 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $110.36, for a total transaction of $511,960.04. Following the sale, the senior vice president now directly owns 25,405 shares of the company’s stock, valued at approximately $2,803,695.80. The disclosure for this sale can be found here. Insiders sold a total of 5,906 shares of company stock valued at $655,917 in the last ninety days. 0.14% of the stock is owned by corporate insiders.
About Waste Management
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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