Wealthfront Advisers LLC Grows Stake in Waste Management, Inc. $WM

Wealthfront Advisers LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,313 shares of the business services provider’s stock after acquiring an additional 19,558 shares during the period. Wealthfront Advisers LLC’s holdings in Waste Management were worth $22,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC grew its stake in Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after purchasing an additional 47 shares during the period. RHL Group LLC bought a new position in shares of Waste Management in the fourth quarter worth approximately $29,000. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management in the 4th quarter worth $29,000. JPL Wealth Management LLC bought a new stake in shares of Waste Management in the 3rd quarter worth $30,000. Finally, Main Street Group LTD purchased a new position in Waste Management in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Waste Management stock opened at $225.17 on Friday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The company has a market capitalization of $90.00 billion, a PE ratio of 31.89, a P/E/G ratio of 2.77 and a beta of 0.44. The company has a 50 day moving average price of $227.96 and a 200-day moving average price of $227.79. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to analysts’ expectations 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 was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 EPS. As a group, equities analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded 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 cut shares of Waste Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. 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 report on Thursday, April 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 research report on Thursday, April 30th. Finally, Oppenheimer dropped their price target on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research note 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 stock presently has a consensus 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.