Knuff & Co LLC Makes New Investment in Waste Management, Inc. $WM

Knuff & Co LLC purchased a new stake in Waste Management, Inc. (NYSE:WM) during the 2nd quarter, Holdings Channel reports. The firm purchased 3,200 shares of the business services provider’s stock, valued at approximately $713,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Waste Management in the 4th quarter valued at approximately $1,022,916,000. Corient Private Wealth LLC grew its stake in shares of Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after purchasing an additional 792,037 shares in the last quarter. Diamant Asset Management Inc. increased its holdings in shares of Waste Management by 23,051.5% during the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock valued at $17,716,000 after purchasing an additional 767,615 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock valued at $150,466,000 after purchasing an additional 660,776 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Waste Management in the second quarter worth about $146,053,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on WM shares. Weiss Ratings raised shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 7th. Canadian Imperial Bank of Commerce downgraded Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Citigroup boosted their price target on shares of Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Scotiabank upped their price target on shares of Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Finally, TD Cowen lifted their price objective on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Thirteen research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $258.89.

Waste Management Stock Performance

Shares of NYSE WM opened at $225.17 on Friday. The stock’s fifty day simple moving average is $227.96 and its 200 day simple moving average is $227.79. The stock has a market capitalization of $90.00 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.77 and a beta of 0.44. 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, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.98 by $0.04. The business had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.Waste Management’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 earnings per share. As a group, sell-side analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Waste Management Company 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.