Handelsbanken Fonder AB Has $54.01 Million Position in Waste Management, Inc. $WM

Handelsbanken Fonder AB grew its stake in Waste Management, Inc. (NYSE:WM) by 10.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 242,318 shares of the business services provider’s stock after buying an additional 22,896 shares during the period. Handelsbanken Fonder AB’s holdings in Waste Management were worth $54,008,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings 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 acquiring an additional 2,320 shares during the last quarter. Sprott Inc. bought a new position in Waste Management during the 1st quarter worth approximately $325,000. Sei Investments Co. lifted its position 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 worth $62,339,000 after purchasing 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 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after purchasing an additional 148,590 shares during the last quarter. Finally, Glenview Trust co increased its position in shares of Waste Management by 5.1% during the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after buying an additional 162 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Waste Management Price Performance

Shares of WM opened at $226.73 on Wednesday. The business’s fifty day moving average is $227.27 and its 200 day moving average is $227.95. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The stock has a market cap of $90.63 billion, a P/E ratio of 32.11, a P/E/G ratio of 2.78 and a beta of 0.44.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. Waste Management’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 EPS. Sell-side analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Robert W. Baird increased their price target on Waste Management from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Barclays lifted their price objective on Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. TD Cowen boosted their price objective on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Finally, Oppenheimer cut their target price on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Waste Management has a consensus rating of “Moderate Buy” and an average target price of $258.89.

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.