Waste Management, Inc. (WM) Stake Lessened by Blue Chip Partners Inc.

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Blue Chip Partners Inc. trimmed its position in Waste Management, Inc. (NYSE:WM) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,980 shares of the business services provider’s stock after selling 1,565 shares during the period. Blue Chip Partners Inc.’s holdings in Waste Management were worth $2,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asset Advisors Investment Management LLC acquired a new stake in Waste Management during the 3rd quarter worth about $2,648,000. Baldwin Brothers Inc. MA grew its position in Waste Management by 6.8% during the 3rd quarter. Baldwin Brothers Inc. MA now owns 38,030 shares of the business services provider’s stock worth $3,436,000 after purchasing an additional 2,436 shares during the period. Palo Capital Inc. acquired a new stake in Waste Management during the 3rd quarter worth about $469,000. Watch Point Trust Co acquired a new stake in Waste Management during the 3rd quarter worth about $1,135,000. Finally, Mycio Wealth Partners LLC grew its position in Waste Management by 36.9% during the 3rd quarter. Mycio Wealth Partners LLC now owns 3,736 shares of the business services provider’s stock worth $338,000 after purchasing an additional 1,007 shares during the period. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:WM traded up $0.57 during trading on Friday, reaching $90.46. 1,709,502 shares of the company’s stock traded hands, compared to its average volume of 2,245,565. The stock has a market capitalization of $38.13 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64. Waste Management, Inc. has a fifty-two week low of $78.33 and a fifty-two week high of $92.85. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.53.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, October 25th. The business services provider reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.04. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.82 billion. Waste Management had a net margin of 15.60% and a return on equity of 27.93%. Sell-side analysts expect that Waste Management, Inc. will post 4.13 earnings per share for the current fiscal year.

In related news, VP Jeff M. Harris sold 24,500 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $90.00, for a total value of $2,205,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

WM has been the topic of several analyst reports. Zacks Investment Research raised Waste Management from a “hold” rating to a “buy” rating and set a $104.00 price target on the stock in a research report on Thursday, September 20th. BMO Capital Markets raised their target price on Waste Management to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 8th. They noted that the move was a valuation call. UBS Group set a $90.00 target price on Waste Management and gave the company a “hold” rating in a research report on Friday, October 26th. Oppenheimer restated a “buy” rating and set a $95.00 target price on shares of Waste Management in a research report on Thursday, October 25th. Finally, Raymond James restated a “buy” rating on shares of Waste Management in a research report on Monday, October 29th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $95.50.

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Waste Management Company Profile

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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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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