OneDigital Investment Advisors LLC Cuts Position in Waste Management, Inc. $WM

OneDigital Investment Advisors LLC lessened its holdings in Waste Management, Inc. (NYSE:WM) by 25.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,823 shares of the business services provider’s stock after selling 2,652 shares during the period. OneDigital Investment Advisors LLC’s holdings in Waste Management were worth $1,744,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. RHL Group LLC purchased a new stake in Waste Management during the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC boosted its position in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new position in Waste Management in the fourth quarter worth approximately $29,000. JPL Wealth Management LLC bought a new position in shares of Waste Management during the 3rd quarter worth $30,000. Finally, Main Street Group LTD purchased a new position in Waste Management during the 1st quarter valued at about $31,000. 80.40% of the stock is owned by institutional investors.

Key Waste Management News

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Waste Management has generated a 58.6% total stock gain over the past five years, reflecting the company’s defensive business profile and relatively consistent long-term performance. Its discounted-cash-flow valuation was described as approximately in line with the share price, which may support the view that the stock is not materially overvalued under cash-flow assumptions. Where Does Waste Management (WM) Value Sit After A 59% Gain?
• Neutral Sentiment: Recent “waste management stocks” coverage provides general sector context but does not identify a new development specific to Waste Management that would materially change its earnings outlook. Waste Management Stocks To Consider – August 15th
• Negative Sentiment: The valuation analysis flags a low value score and indicates that earnings-based multiples place WM at a premium. With the stock trading near its 50-day and 200-day averages and at a forward earnings valuation that is not inexpensive, concerns about limited upside or elevated valuation could weigh on investor enthusiasm.

Waste Management Price Performance

Shares of Waste Management stock opened at $225.05 on Thursday. The business has a 50 day simple moving average of $227.84 and a two-hundred day simple moving average of $227.77. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market capitalization of $89.95 billion, a P/E ratio of 31.88, a PEG ratio of 2.75 and a beta of 0.44. Waste Management, Inc. has a 12 month low of $194.11 and a 12 month high of $248.13.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping 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%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.92 earnings per share. As a group, analysts predict that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Analysts Set New Price Targets

WM has been the topic of a number of analyst reports. Oppenheimer cut their price target on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective on shares of Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Barclays upped their target price on Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. 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. Finally, Citigroup lifted their target price on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a report on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average price target of $258.89.

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.