Western Asset Management Co Exits Position in Waste Management (WM)

Waste Management (WM) : Western Asset Management Co has sold out all of its stake in Waste Management during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 35 shares of Waste Management which is valued at $2,333.

Other Hedge Funds, Including , Millennium Management reduced its stake in WM by selling 650,367 shares or 84.87% in the most recent quarter. The Hedge Fund company now holds 115,942 shares of WM which is valued at $7,729,853. Waste Management makes up approx 0.02% of Millennium Management’s portfolio.Evercore Wealth Management boosted its stake in WM in the latest quarter, The investment management firm added 336 additional shares and now holds a total of 10,095 shares of Waste Management which is valued at $664,453. Waste Management makes up approx 0.03% of Evercore Wealth Management’s portfolio.Cornerstone Advisors boosted its stake in WM in the latest quarter, The investment management firm added 153 additional shares and now holds a total of 355 shares of Waste Management which is valued at $23,466. Waste Management makes up approx 0.02% of Cornerstone Advisors’s portfolio.

Waste Management opened for trading at $63.98 and hit $64.13 on the upside on Thursday, eventually ending the session at $64, with a gain of 0.09% or 0.06 points. The heightened volatility saw the trading volume jump to 22,25,297 shares. Company has a market cap of $28,306 M.

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. Macquarie Initiated Waste Management on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $69.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 .

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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