Psagot Investment House Ltd. Lowers Position in Waste Management, Inc. (NYSE:WM)

Psagot Investment House Ltd. reduced its stake in Waste Management, Inc. (NYSE:WM) by 17.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,500 shares of the business services provider’s stock after selling 2,000 shares during the quarter. Psagot Investment House Ltd.’s holdings in Waste Management were worth $1,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WM. Valeo Financial Advisors LLC increased its position in shares of Waste Management by 1.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 5,111 shares of the business services provider’s stock valued at $590,000 after purchasing an additional 86 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Waste Management by 1.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,022 shares of the business services provider’s stock valued at $695,000 after purchasing an additional 87 shares during the last quarter. 6 Meridian increased its position in shares of Waste Management by 1.7% during the 2nd quarter. 6 Meridian now owns 5,181 shares of the business services provider’s stock valued at $598,000 after purchasing an additional 88 shares during the last quarter. Hanseatic Management Services Inc. increased its position in shares of Waste Management by 1.2% during the 2nd quarter. Hanseatic Management Services Inc. now owns 7,652 shares of the business services provider’s stock valued at $883,000 after purchasing an additional 90 shares during the last quarter. Finally, Hanson McClain Inc. increased its position in shares of Waste Management by 30.1% during the 2nd quarter. Hanson McClain Inc. now owns 393 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 91 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

WM has been the subject of several research reports. Royal Bank of Canada set a $126.00 price target on Waste Management and gave the stock a “buy” rating in a research note on Friday, July 26th. Argus increased their price target on Waste Management from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. initiated coverage on Waste Management in a research note on Wednesday. They set a “neutral” rating and a $120.00 price target for the company. Scotiabank initiated coverage on Waste Management in a research note on Monday, July 22nd. They set an “outperform” rating for the company. Finally, Oppenheimer reiterated a “market perform” rating on shares of Waste Management in a research note on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $113.91.

Shares of WM traded up $0.24 during trading hours on Friday, reaching $118.71. 509,147 shares of the company’s stock traded hands, compared to its average volume of 1,644,285. The company has a market capitalization of $49.25 billion, a PE ratio of 28.26, a PEG ratio of 3.14 and a beta of 0.62. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.66 and a current ratio of 1.70. The firm’s 50 day simple moving average is $116.81. Waste Management, Inc. has a 12 month low of $83.22 and a 12 month high of $118.89.

Waste Management (NYSE:WM) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.04. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.94 billion. Waste Management had a return on equity of 29.15% and a net margin of 11.49%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.01 EPS. Analysts expect that Waste Management, Inc. will post 4.32 earnings per share for the current year.

In related news, Director Patrick W. Gross sold 289 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $118.61, for a total transaction of $34,278.29. Following the transaction, the director now directly owns 53,378 shares of the company’s stock, valued at approximately $6,331,164.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James C. Fish, Jr. sold 84,314 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $116.51, for a total value of $9,823,424.14. Following the transaction, the chief executive officer now directly owns 282,921 shares in the company, valued at $32,963,125.71. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Waste Management Company Profile

Waste Management, Inc, through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It provides collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.

Featured Story: Cost of Capital Explained

Want to see what other hedge funds are holding WM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Waste Management, Inc. (NYSE:WM).

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

Receive News & Ratings for Waste Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Waste Management and related companies with MarketBeat.com's FREE daily email newsletter.