Hayek Kallen Investment Management Lowers stake in Waste Management (WM)

Waste Management (WM) : Hayek Kallen Investment Management reduced its stake in Waste Management by 1.35% during the most recent quarter end. The investment management company now holds a total of 65,943 shares of Waste Management which is valued at $4,396,420 after selling 900 shares in Waste Management , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Waste Management makes up approximately 3.09% of Hayek Kallen Investment Management’s portfolio.

Other Hedge Funds, Including , Reliance Trust Co Of Delaware reduced its stake in WM by selling 759 shares or 2.71% in the most recent quarter. The Hedge Fund company now holds 27,217 shares of WM which is valued at $1,814,557. Waste Management makes up approx 0.16% of Reliance Trust Co Of Delaware’s portfolio.Dimensional Fund Advisors Lp boosted its stake in WM in the latest quarter, The investment management firm added 10,062 additional shares and now holds a total of 1,229,220 shares of Waste Management which is valued at $80,526,202. Waste Management makes up approx 0.04% of Dimensional Fund Advisors Lp’s portfolio.Provise Management Group boosted its stake in WM in the latest quarter, The investment management firm added 351 additional shares and now holds a total of 19,582 shares of Waste Management which is valued at $1,288,887. Waste Management makes up approx 0.23% of Provise Management Group’s portfolio.Whittier Trust Co boosted its stake in WM in the latest quarter, The investment management firm added 425 additional shares and now holds a total of 4,225 shares of Waste Management which is valued at $279,357. Waste Management makes up approx 0.01% of Whittier Trust Co’s portfolio.Strs Ohio reduced its stake in WM by selling 10,838 shares or 2.51% in the most recent quarter. The Hedge Fund company now holds 420,771 shares of WM which is valued at $27,812,963. Waste Management makes up approx 0.12% of Strs Ohio’s portfolio.

Waste Management opened for trading at $64.78 and hit $65.08 on the upside on Friday, eventually ending the session at $64.97, with a gain of 0.08% or 0.05 points. The heightened volatility saw the trading volume jump to 15,25,451 shares. Company has a market cap of $28,736 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. 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 .Company shares were Reiterated by Imperial Capital on Jul 29, 2016 to “In-line”, Firm has raised the Price Target to $ 71 from a previous price target of $62 .

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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