Leonetti Associates buys $7,946,942 stake in Waste Management (WM)

Waste Management (WM) : Leonetti Associates scooped up 400 additional shares in Waste Management during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 117,350 shares of Waste Management which is valued at $7,946,942.Waste Management makes up approximately 2.29% of Leonetti Associates’s portfolio.

Other Hedge Funds, Including , Peregrine Asset Advisers sold out all of its stake in WM during the most recent quarter. The investment firm sold 53,883 shares of WM which is valued $3,648,957.Ifp Advisors Inc reduced its stake in WM by selling 2,282 shares or 6.83% in the most recent quarter. The Hedge Fund company now holds 31,105 shares of WM which is valued at $1,971,124. Waste Management makes up approx 0.11% of Ifp Advisors Inc’s portfolio. Quantbot Technologies Lp added WM to its portfolio by purchasing 22,685 company shares during the most recent quarter which is valued at $1,450,706. Waste Management makes up approx 0.17% of Quantbot Technologies Lp’s portfolio.Huntington National Bank boosted its stake in WM in the latest quarter, The investment management firm added 8,188 additional shares and now holds a total of 30,827 shares of Waste Management which is valued at $1,971,387. Waste Management makes up approx 0.04% of Huntington National Bank’s portfolio. Concert Wealth Management sold out all of its stake in WM during the most recent quarter. The investment firm sold 8,175 shares of WM which is valued $523,037.

Waste Management opened for trading at $68.76 and hit $68.97 on the upside on Monday, eventually ending the session at $68.9, with a gain of 0.19% or 0.13 points. The heightened volatility saw the trading volume jump to 20,78,869 shares. Company has a market cap of $30,454 M.

On the company’s financial health, Waste Management reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $0.80. The company had revenue of $3548.00 million for the quarter, compared to analysts expectations of $3497.49 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

Investors should note that on Nov 10, 2016, Waste Management announced a cash dividend of $0.4100. The company’s management has announced Nov 30, 2016 as the ex-dividend date and fixed the record date on Dec 2, 2016. The payable date has been fixed on Dec 16, 2016.

Many Wall Street Analysts have commented on Waste Management. Barclays Upgraded Waste Management on Nov 7, 2016 to ” Overweight”, Price Target of the shares are set at $70.Goldman Initiated Waste Management on Nov 1, 2016 to “Sell”, Price Target of the shares are set at $63.Waste Management was Upgraded by BofA/Merrill to ” Buy” on Oct 31, 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.

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