Asset Advisors Corp Lowers stake in Waste Management (WM)

Waste Management (WM) : Asset Advisors Corp reduced its stake in Waste Management by 1.1% during the most recent quarter end. The investment management company now holds a total of 31,400 shares of Waste Management which is valued at $2,066,748 after selling 350 shares in Waste Management , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Waste Management makes up approximately 0.43% of Asset Advisors Corp’s portfolio.

Other Hedge Funds, Including , Baker Ellis Asset Management reduced its stake in WM by selling 50 shares or 0.38% in the most recent quarter. The Hedge Fund company now holds 13,016 shares of WM which is valued at $860,618. Waste Management makes up approx 0.26% of Baker Ellis Asset Management’s portfolio.

Waste Management closed down -0.46 points or -0.70% at $65.51 with 16,53,261 shares getting traded on Monday. Post opening the session at $65.98, the shares hit an intraday low of $65.5 and an intraday high of $66.18 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Waste Management reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.71. The company had revenue of $3425.00 million for the quarter, compared to analysts expectations of $3403.58 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Waste Management. Waste Management was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Aug 9, 2016. Company shares were Downgraded by Barclays on Aug 9, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 70 from a previous price target of $66 .Company shares were Reiterated by Imperial Capital on Jul 29, 2016 to “In-line”, Firm has raised the Price Target to $ 71 from a previous price target of $62 .

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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