Pensionfund Sabic Exits Position in Waste Management (WM)

Waste Management (WM) : Pensionfund Sabic has sold out all of its stake in Waste Management during the most recent quarter, according to a report filed by the company on Apr 4, 2016 with the SEC. The investment management company has sold out 33,700 shares of Waste Management which is valued at $1.9 Million.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands sold out all of its stake in WM during the most recent quarter. The investment firm sold 71,200 shares of WM which is valued $4.1 Million.

On the company’s financial health, Waste Management reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $0.68. The company had revenue of $3246.00 million for the quarter, compared to analysts expectations of $3289.21 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on Waste Management. Waste Management was Initiated by Sterne Agee CRT to “Neutral” on Mar 22, 2016. Company shares were Reiterated by Barclays on Feb 23, 2016 to “Overweight”, Firm has raised the Price Target to $ 60 from a previous price target of $58 .

Waste Management closed down -0.38 points or -0.66% at $57.29 with 19,00,160 shares getting traded on Monday. Post opening the session at $57.84, the shares hit an intraday low of $57.27 and an intraday high of $58 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Waste Management Inc. is a holding company. The Company through its subsidiaries provides waste management environmental services. The Company’s Solid Waste business is operated and managed locally by its subsidiaries that focus on geographic areas and provides collection transfer recycling and resource recovery and disposal services. The Company develops operates and owns landfill gas-to-energy facilities in the United States. The Company’s segments include Tier 1 which comprises areas in the Southern United States; Tier 2 which comprises areas located in the Midwest and Northeast United States and Tier 3 which encompasses the remaining areas including the Northwest and Mid-Atlantic regions of the United States and Eastern Canada. The Company owns or operates 252 landfill sites. It manages 298 transfer stations that consolidate compact and transport waste.

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