State of Michigan Retirement System raised its holdings in Waste Management, Inc. (NYSE:WM) by 10.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,174 shares of the business services provider’s stock after buying an additional 9,696 shares during the period. State of Michigan Retirement System’s holdings in Waste Management were worth $10,504,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SeaCrest Wealth Management LLC boosted its holdings in shares of Waste Management by 1.1% in the second quarter. SeaCrest Wealth Management LLC now owns 8,798 shares of the business services provider’s stock valued at $932,000 after acquiring an additional 94 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its position in Waste Management by 27.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 465 shares of the business services provider’s stock worth $49,000 after purchasing an additional 99 shares during the period. First Command Financial Services Inc. boosted its stake in Waste Management by 5.2% during the 1st quarter. First Command Financial Services Inc. now owns 2,037 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Waste Management by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the business services provider’s stock valued at $1,769,000 after purchasing an additional 100 shares during the period. Finally, Selective Wealth Management Inc. raised its stake in shares of Waste Management by 20.2% in the 2nd quarter. Selective Wealth Management Inc. now owns 595 shares of the business services provider’s stock worth $63,000 after buying an additional 100 shares in the last quarter. 73.45% of the stock is owned by institutional investors.
Several equities research analysts have commented on WM shares. Oppenheimer reiterated a “buy” rating and issued a $117.00 price target on shares of Waste Management in a research report on Thursday. BMO Capital Markets increased their target price on shares of Waste Management from $111.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus restated a “buy” rating and issued a $115.00 price target on shares of Waste Management in a research report on Thursday, July 9th. CIBC cut Waste Management from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, July 14th. Finally, Robert W. Baird began coverage on Waste Management in a research note on Thursday, May 28th. They set an “outperform” rating and a $115.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $116.50.
Waste Management (NYSE:WM) last released its earnings results on Thursday, July 30th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. Waste Management had a net margin of 10.66% and a return on equity of 25.84%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.50 billion. Sell-side analysts predict that Waste Management, Inc. will post 3.81 EPS for the current year.
In other Waste Management news, Director Frank M. Clark sold 315 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $106.95, for a total value of $33,689.25. Following the transaction, the director now owns 32,586 shares in the company, valued at $3,485,072.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company 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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