Strategic Wealth Investment Group LLC decreased its position in Waste Management, Inc. (NYSE:WM – Free Report) by 22.1% during the 2nd quarter, Holdings Channel reports. The fund owned 21,999 shares of the business services provider’s stock after selling 6,254 shares during the quarter. Strategic Wealth Investment Group LLC’s holdings in Waste Management were worth $4,903,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in WM. Brighton Jones LLC lifted its position in Waste Management by 51.1% in the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the period. Sprott Inc. purchased a new position in shares of Waste Management during the 1st quarter worth approximately $325,000. Sei Investments Co. lifted its holdings in shares of Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after buying an additional 20,122 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Waste Management by 68.2% in the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after buying an additional 148,590 shares in the last quarter. Finally, Glenview Trust co raised its position in Waste Management by 5.1% in the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after acquiring an additional 162 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on WM shares. Canadian Imperial Bank of Commerce lowered shares of Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Scotiabank raised their price objective on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Barclays upped their target price on shares of Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Wells Fargo & Company dropped their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Oppenheimer reduced their price target on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $258.89.
Waste Management Trading Down 0.3%
Shares of WM stock opened at $223.95 on Tuesday. The stock has a market cap of $89.52 billion, a P/E ratio of 31.72, a P/E/G ratio of 2.76 and a beta of 0.44. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The business has a fifty day simple moving average of $227.77 and a 200-day simple moving average of $227.81. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24.
Waste Management (NYSE:WM – Get Free Report) last posted its earnings results 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. The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.92 EPS. On average, analysts forecast that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.
About Waste Management
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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