Conning Lowers stake in Waste Management (WM)

Waste Management (WM) : Conning reduced its stake in Waste Management by 15.9% during the most recent quarter end. The investment management company now holds a total of 403,237 shares of Waste Management which is valued at $26,653,966 after selling 76,253 shares in Waste Management , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Waste Management makes up approximately 1.10% of Conning’s portfolio.

Other Hedge Funds, Including , Seaward Management Limited Partnership reduced its stake in WM by selling 425 shares or 1.23% in the most recent quarter. The Hedge Fund company now holds 34,262 shares of WM which is valued at $2,264,718. Waste Management makes up approx 0.12% of Seaward Management Limited Partnership’s portfolio.Nordea Investment Management Ab boosted its stake in WM in the latest quarter, The investment management firm added 105,655 additional shares and now holds a total of 628,224 shares of Waste Management which is valued at $42,574,740. Waste Management makes up approx 0.12% of Nordea Investment Management Ab’s portfolio.Palladium Partners boosted its stake in WM in the latest quarter, The investment management firm added 117 additional shares and now holds a total of 5,314 shares of Waste Management which is valued at $360,130. Waste Management makes up approx 0.03% of Palladium Partners’s portfolio.

Waste Management closed down -0.24 points or -0.36% at $66.12 with 20,79,276 shares getting traded on Friday. Post opening the session at $66.36, the shares hit an intraday low of $65.85 and an intraday high of $66.4 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 $0.74 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. 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 .Company shares were Reiterated by Stifel on Jul 18, 2016 to “Buy”, Firm has raised the Price Target to $ 75 from a previous price target of $70 .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 .

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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