Waste Management (WM) : Hayek Kallen Investment Management reduced its stake in Waste Management by 2.51% during the most recent quarter end. The investment management company now holds a total of 66,843 shares of Waste Management which is valued at $4,108,171 after selling 1,723 shares in Waste Management , the firm said in a disclosure report filed with the SEC on May 9, 2016.Waste Management makes up approximately 3.08% of Hayek Kallen Investment Management’s portfolio.
Other Hedge Funds, Including , Qci Asset Management Incny reduced its stake in WM by selling 693 shares or 21.04% in the most recent quarter. The Hedge Fund company now holds 2,600 shares of WM which is valued at $159,796. Waste Management makes up approx 0.02% of Qci Asset Management Incny’s portfolio.New York State Common Retirement Fund boosted its stake in WM in the latest quarter, The investment management firm added 3,098 additional shares and now holds a total of 1,262,298 shares of Waste Management which is valued at $76,608,866. Waste Management makes up approx 0.12% of New York State Common Retirement Fund’s portfolio.Mizuho Trust Banking Ltd. boosted its stake in WM in the latest quarter, The investment management firm added 10,833 additional shares and now holds a total of 695,280 shares of Waste Management which is valued at $40,875,511. Waste Management makes up approx 0.13% of Mizuho Trust Banking Ltd.’s portfolio.Candriam Luxembourg S.c.a. reduced its stake in WM by selling 174,189 shares or 82.1% in the most recent quarter. The Hedge Fund company now holds 37,986 shares of WM which is valued at $2,233,197. Waste Management makes up approx 0.06% of Candriam Luxembourg S.c.a.’s portfolio.Oppenheimer Co Inc reduced its stake in WM by selling 9,578 shares or 5.89% in the most recent quarter. The Hedge Fund company now holds 152,996 shares of WM which is valued at $8,994,635. Waste Management makes up approx 0.27% of Oppenheimer Co Inc’s portfolio.
Waste Management closed down -0.32 points or -0.52% at $61.46 with 18,42,562 shares getting traded on Friday. Post opening the session at $61.66, the shares hit an intraday low of $61.26 and an intraday high of $62.05 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Waste Management reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.55. The company had revenue of $3176.00 million for the quarter, compared to analysts expectations of $3084.63 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
Many Wall Street Analysts have commented on Waste Management. Company shares were Reiterated by Imperial Capital on Apr 29, 2016 to “In-line”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .Company shares were Reiterated by Wedbush on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .Waste Management was Initiated by BofA/Merrill to “Neutral” on Apr 25, 2016.
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.