Waste Management, Inc. (NYSE:WM) posted its earnings results on Wednesday. The business services provider reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81, MarketWatch Earnings reports. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.62 billion. Waste Management had a return on equity of 24.76% and a net margin of 8.81%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. Waste Management updated its FY17 guidance to $3.14-3.18 EPS.

Waste Management (NYSE:WM) traded down 1.3633% on Wednesday, reaching $74.6088. The company had a trading volume of 868,590 shares. Waste Management has a 52-week low of $61.08 and a 52-week high of $76.00. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 27.2196 and a beta of 0.71. The stock’s 50-day moving average price is $73.79 and its 200 day moving average price is $72.37.

Several research firms have issued reports on WM. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Wednesday, July 19th. Stifel Nicolaus raised their target price on Waste Management from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. raised their target price on Waste Management from $77.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 5th. BMO Capital Markets began coverage on Waste Management in a research note on Thursday, June 29th. They set an “outperform” rating and a $81.00 target price for the company. Finally, Credit Suisse Group lifted their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $74.94.

In other Waste Management news, Director John C. Pope sold 453 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $74.38, for a total value of $33,694.14. Following the completion of the transaction, the director now directly owns 51,470 shares of the company’s stock, valued at approximately $3,828,338.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 3,500 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total transaction of $252,665.00. Following the completion of the transaction, the chief executive officer now directly owns 151,162 shares of the company’s stock, valued at $10,912,384.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,940 shares of company stock valued at $575,603. 0.19% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock valued at $100,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Waste Management during the second quarter valued at approximately $103,000. Guardian Life Insurance Co. of America boosted its position in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock valued at $114,000 after buying an additional 14 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Waste Management during the first quarter valued at approximately $127,000. Finally, Parallel Advisors LLC boosted its position in shares of Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock valued at $130,000 after buying an additional 493 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

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About Waste Management

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

Earnings History for Waste Management (NYSE:WM)

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