Spectrum Management Group Inc. Has $2.29 Million Holdings in Waste Management, Inc. (NYSE:WM)

Spectrum Management Group Inc. Has $2.29 Million Holdings in Waste Management, Inc. (NYSE:WM)

Spectrum Management Group Inc. boosted its position in shares of Waste Management, Inc. (NYSE:WM) by 5.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,050 shares of the business services provider’s stock after purchasing an additional 1,110 shares during the quarter. Spectrum Management Group Inc.’s holdings in Waste Management were worth $2,291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. We Are One Seven LLC bought a new position in shares of Waste Management in the fourth quarter valued at about $26,000. Larson Financial Group LLC acquired a new position in shares of Waste Management in the fourth quarter valued at about $26,000. Executive Wealth Management LLC acquired a new position in shares of Waste Management in the fourth quarter valued at about $26,000. Altshuler Shaham Ltd acquired a new position in shares of Waste Management in the fourth quarter valued at about $27,000. Finally, Washington Trust Bank acquired a new position in shares of Waste Management in the first quarter valued at about $28,000. Hedge funds and other institutional investors own 75.79% of the company’s stock.

WM has been the topic of several research reports. Zacks Investment Research downgraded shares of Waste Management from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Argus upped their price target on shares of Waste Management from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, April 26th. UBS Group upgraded shares of Waste Management from a “neutral” rating to a “buy” rating and upped their price target for the company from $90.00 to $103.00 in a research note on Thursday, January 10th. Oppenheimer upped their price target on shares of Waste Management from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 15th. Finally, Royal Bank of Canada started coverage on shares of Waste Management in a research note on Wednesday, May 1st. They set a “sector perform” rating and a $113.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $105.22.

In related news, EVP John J. Morris sold 42,795 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $106.38, for a total value of $4,552,532.10. Following the completion of the transaction, the executive vice president now owns 101,332 shares in the company, valued at approximately $10,779,698.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Tara J. Hmmer sold 472 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $98.81, for a total transaction of $46,638.32. Following the completion of the transaction, the senior vice president now owns 17,208 shares of the company’s stock, valued at approximately $1,700,322.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,522 shares of company stock worth $4,921,224. 0.14% of the stock is currently owned by corporate insiders.

Waste Management stock traded up $0.10 during trading hours on Wednesday, reaching $104.82. 993,425 shares of the stock were exchanged, compared to its average volume of 1,774,131. Waste Management, Inc. has a twelve month low of $79.96 and a twelve month high of $107.45. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $44.98 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.88 and a beta of 0.67.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. Waste Management had a net margin of 12.43% and a return on equity of 29.12%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the company posted $0.91 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Waste Management, Inc. will post 4.32 earnings per share for the current year.

Waste Management 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.

Read More: What is a front-end load?

Related posts

Leave a Comment