Calamos Advisors LLC Cuts Stock Holdings in Waste Management, Inc. (NYSE:WM)

Calamos Advisors LLC lowered its position in Waste Management, Inc. (NYSE:WM) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,258 shares of the business services provider’s stock after selling 7,359 shares during the period. Calamos Advisors LLC’s holdings in Waste Management were worth $35,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in Waste Management by 63.7% in the 4th quarter. Jennison Associates LLC now owns 3,345 shares of the business services provider’s stock valued at $599,000 after purchasing an additional 1,302 shares during the period. RWA Wealth Partners LLC increased its holdings in Waste Management by 111.6% during the fourth quarter. RWA Wealth Partners LLC now owns 4,527 shares of the business services provider’s stock worth $811,000 after buying an additional 2,388 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in Waste Management in the fourth quarter worth about $896,000. Alaska Permanent Fund Corp purchased a new position in Waste Management in the fourth quarter valued at about $1,282,000. Finally, Capital Advisors Ltd. LLC grew its position in shares of Waste Management by 7.0% during the 4th quarter. Capital Advisors Ltd. LLC now owns 2,000 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 131 shares during the period. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Michael J. Watson sold 1,500 shares of Waste Management stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $220.00, for a total transaction of $330,000.00. Following the sale, the vice president now owns 44,144 shares of the company’s stock, valued at approximately $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Waste Management news, VP Michael J. Watson sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total transaction of $330,000.00. Following the completion of the transaction, the vice president now owns 44,144 shares of the company’s stock, valued at $9,711,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael J. Watson sold 4,208 shares of Waste Management stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $204.28, for a total transaction of $859,610.24. Following the transaction, the vice president now directly owns 45,644 shares of the company’s stock, valued at $9,324,156.32. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WM shares. TD Cowen increased their price target on Waste Management from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Royal Bank of Canada lowered their price target on shares of Waste Management from $215.00 to $204.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Robert W. Baird cut their price objective on shares of Waste Management from $226.00 to $216.00 and set a “neutral” rating for the company in a report on Friday, July 26th. StockNews.com cut shares of Waste Management from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group upgraded Waste Management to a “strong-buy” rating in a research report on Friday, July 26th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.83.

Waste Management Trading Down 0.1 %

Shares of NYSE WM traded down $0.14 during midday trading on Friday, reaching $209.98. The company had a trading volume of 810,828 shares, compared to its average volume of 1,675,305. The firm’s fifty day moving average price is $209.62 and its 200-day moving average price is $207.92. The company has a quick ratio of 1.03, a current ratio of 1.07 and a debt-to-equity ratio of 2.21. Waste Management, Inc. has a one year low of $149.71 and a one year high of $225.00. The stock has a market cap of $84.27 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.35 and a beta of 0.74.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.82 earnings per share for the quarter, meeting the consensus estimate of $1.82. Waste Management had a net margin of 12.13% and a return on equity of 39.52%. The business had revenue of $5.40 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the prior year, the company posted $1.51 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Waste Management, Inc. will post 7.24 earnings per share for the current year.

About Waste Management

Waste Management, Inc, through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers 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 and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity.