Mechanics Bank Trust Department lowered its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,808 shares of the business services provider’s stock after selling 800 shares during the period. Mechanics Bank Trust Department’s holdings in Waste Management were worth $1,820,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of Waste Management during the second quarter worth about $103,000. Quadrant Capital Group LLC raised its position in shares of Waste Management by 5.8% in the first quarter. Quadrant Capital Group LLC now owns 1,424 shares of the business services provider’s stock worth $100,000 after buying an additional 78 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Waste Management by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,568 shares of the business services provider’s stock worth $114,000 after buying an additional 14 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Waste Management during the first quarter worth about $127,000. Finally, Parallel Advisors LLC raised its position in shares of Waste Management by 38.1% in the first quarter. Parallel Advisors LLC now owns 1,787 shares of the business services provider’s stock worth $130,000 after buying an additional 493 shares during the period. 75.59% of the stock is owned by institutional investors.

Waste Management, Inc. (WM) traded down 0.27% during midday trading on Friday, reaching $74.61. The company’s stock had a trading volume of 958,391 shares. The firm has a 50-day moving average price of $74.49 and a 200 day moving average price of $72.86. Waste Management, Inc. has a 52-week low of $61.08 and a 52-week high of $76.00. The stock has a market capitalization of $32.83 billion, a price-to-earnings ratio of 25.55 and a beta of 0.71.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.62 billion. Waste Management had a net margin of 9.18% and a return on equity of 25.07%. Waste Management’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. Equities research analysts predict that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.

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A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Waste Management from a “buy” rating to a “hold” rating in a report on Wednesday, May 31st. KeyCorp increased their price objective on Waste Management from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 11th. Finally, Credit Suisse Group increased their price objective on Waste Management from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Waste Management has a consensus rating of “Hold” and a consensus target price of $75.51.

In related news, CEO James C. Fish, Jr. sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total value of $252,665.00. Following the completion of the sale, the chief executive officer now owns 151,162 shares of the company’s stock, valued at $10,912,384.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Patrick W. Gross sold 487 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $74.68, for a total transaction of $36,369.16. Following the completion of the sale, the director now directly owns 23,222 shares of the company’s stock, valued at approximately $1,734,218.96. The disclosure for this sale can be found here. In the last three months, insiders sold 7,940 shares of company stock valued at $575,603. 0.19% of the stock is currently owned by company insiders.

Waste Management Company Profile

Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.

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Institutional Ownership by Quarter for Waste Management (NYSE:WM)

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