Parsons Capital Management Inc. RI Has $2.03 Million Holdings in Waste Management, Inc. (NYSE:WM)

Parsons Capital Management Inc. RI reduced its stake in shares of Waste Management, Inc. (NYSE:WM) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,533 shares of the business services provider’s stock after selling 90 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Waste Management were worth $2,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hexagon Capital Partners LLC lifted its holdings in Waste Management by 170.5% during the 1st quarter. Hexagon Capital Partners LLC now owns 119 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 75 shares during the last quarter. Sachetta LLC acquired a new stake in shares of Waste Management in the fourth quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Waste Management in the second quarter valued at about $31,000. Opal Wealth Advisors LLC bought a new stake in Waste Management during the 1st quarter worth about $35,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $36,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Waste Management

In related news, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total value of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Waste Management news, VP Michael J. Watson sold 4,208 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $204.28, for a total transaction of $859,610.24. Following the completion of the sale, the vice president now directly owns 45,644 shares of the company’s stock, valued at approximately $9,324,156.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael J. Watson sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Waste Management Stock Up 0.3 %

Shares of WM opened at $207.24 on Tuesday. The firm has a 50 day simple moving average of $209.03 and a two-hundred day simple moving average of $207.34. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.07 and a quick ratio of 1.03. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The company has a market cap of $83.12 billion, a P/E ratio of 33.81, a P/E/G ratio of 2.31 and a beta of 0.74.

Waste Management (NYSE:WM) last issued its earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.82. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. Waste Management had a return on equity of 39.52% and a net margin of 12.13%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 EPS. Research analysts forecast that Waste Management, Inc. will post 7.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WM shares. Oppenheimer cut their price target on Waste Management from $229.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada reduced their target price on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Stifel Nicolaus boosted their price target on shares of Waste Management from $215.00 to $227.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a report on Friday, July 26th. Finally, Raymond James boosted their price objective on Waste Management from $219.00 to $229.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.83.

Waste Management Profile

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.