Manufacturers Life Insurance Company Cuts Stakes in Waste Management and Ecolab

The Manufacturers Life Insurance Company disclosed in its latest Form 13F that it reduced its holding in Waste Management, Inc. by 73.1%, selling 544,348 shares and ending the quarter with 200,410 shares worth about $46 million. In the same filing the insurer trimmed its position in Ecolab Inc. by 6.7%, selling 9,859 shares and holding 136,762 shares valued at roughly $36 million after the transaction.

Both moves reflect the insurer’s portfolio adjustments during the first quarter, while other institutional investors also altered stakes in the two companies, with several hedge funds and wealth managers taking new or increased positions.