Capital Investment Counsel LLC Lowers Stock Holdings in Waste Management, Inc. $WM

Capital Investment Counsel LLC cut its stake in shares of Waste Management, Inc. (NYSE:WM) by 75.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,074 shares of the business services provider’s stock after selling 3,310 shares during the period. Capital Investment Counsel LLC’s holdings in Waste Management were worth $237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Waste Management by 0.8% during the second quarter. Vanguard Group Inc. now owns 37,662,207 shares of the business services provider’s stock worth $8,617,866,000 after purchasing an additional 292,868 shares during the last quarter. Geode Capital Management LLC raised its position in Waste Management by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 8,647,146 shares of the business services provider’s stock worth $1,972,856,000 after buying an additional 126,329 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Waste Management by 1.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,390,971 shares of the business services provider’s stock worth $1,232,131,000 after acquiring an additional 74,528 shares during the period. Norges Bank purchased a new stake in shares of Waste Management in the second quarter valued at about $1,064,206,000. Finally, Amundi increased its stake in shares of Waste Management by 8.6% during the second quarter. Amundi now owns 3,596,281 shares of the business services provider’s stock worth $804,809,000 after acquiring an additional 284,733 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of NYSE WM opened at $231.18 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.80 and a debt-to-equity ratio of 2.22. The company’s 50-day moving average price is $221.53 and its 200 day moving average price is $219.34. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $242.58. The stock has a market cap of $93.24 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.48 and a beta of 0.58.

Waste Management (NYSE:WM) last released its quarterly earnings results on Wednesday, January 28th. The business services provider reported $1.93 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.02). Waste Management had a net margin of 10.74% and a return on equity of 32.45%. The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.39 billion. During the same quarter in the prior year, the company earned $1.70 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts forecast that Waste Management, Inc. will post 7.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on Waste Management from $236.00 to $252.00 and gave the company a “buy” rating in a report on Friday, January 30th. Scotiabank restated a “sector perform” rating and issued a $250.00 price target (down from $254.00) on shares of Waste Management in a research note on Wednesday, January 21st. UBS Group upgraded Waste Management from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $225.00 to $260.00 in a research report on Friday, January 9th. Oppenheimer boosted their target price on shares of Waste Management from $263.00 to $264.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Waste Management in a report on Monday, November 24th. They issued a “buy” rating and a $256.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.55.

Insider Transactions at Waste Management

In related news, SVP Rafael Carrasco sold 690 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $219.01, for a total value of $151,116.90. Following the transaction, the senior vice president directly owned 22,892 shares of the company’s stock, valued at approximately $5,013,576.92. This trade represents a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles C. Boettcher sold 689 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $219.32, for a total value of $151,111.48. Following the sale, the executive vice president owned 56,159 shares of the company’s stock, valued at $12,316,791.88. This represents a 1.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 44,580 shares of company stock worth $10,198,938 in the last three months. 0.18% of the stock is currently owned by company insiders.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.