Fifth Third Bancorp decreased its position in Waste Management, Inc. (NYSE:WM – Free Report) by 4.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 305,195 shares of the business services provider’s stock after selling 15,320 shares during the quarter. Fifth Third Bancorp’s holdings in Waste Management were worth $68,022,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new position in Waste Management during the fourth quarter worth about $25,000. RHL Group LLC purchased a new stake in Waste Management in the 4th quarter valued at about $29,000. Financial Network Wealth Advisors LLC lifted its position in shares of Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after buying an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management in the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Waste Management in the third quarter valued at approximately $30,000. 80.40% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently commented on WM. Stifel Nicolaus increased their price target on Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Scotiabank boosted their price objective on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Citigroup raised their target price on Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Canadian Imperial Bank of Commerce cut Waste Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Finally, TD Cowen boosted their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.89.
Waste Management Trading Down 0.3%
NYSE:WM opened at $223.95 on Tuesday. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The firm’s 50 day moving average is $227.77 and its 200 day moving average is $227.81. The stock has a market capitalization of $89.52 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44.
Waste Management (NYSE:WM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The business had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the company earned $1.92 earnings per share. Waste Management’s revenue was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current year.
Waste Management Profile
Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.
Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.
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