1,446,874 Shares in Waste Management, Inc. $WM Acquired by Morgan Stanley Institutional Investment Advisors LLC

Key Points

• Morgan Stanley Institutional Investment Advisors acquired 1.45 million Waste Management shares worth approximately $322.5 million, making WM its second-largest holding and representing about 0.36% of the company.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” from 20 analysts and an average price target of $258.89.
• Waste Management reported quarterly earnings of $2.02 per share, exceeding estimates by $0.04, while revenue rose 4% year over year to $6.68 billion, slightly below expectations.

Morgan Stanley Institutional Investment Advisors LLC bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,446,874 shares of the business services provider's stock, valued at approximately $322,479,000. Waste Management accounts for about 30.1% of Morgan Stanley Institutional Investment Advisors LLC's holdings, making the stock its 2nd biggest holding. Morgan Stanley Institutional Investment Advisors LLC owned about 0.36% of Waste Management at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WM. RHL Group LLC bought a new stake in shares of Waste Management during the fourth quarter worth $29,000. Financial Network Wealth Advisors LLC boosted its holdings in shares of Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after acquiring an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in Waste Management during the 4th quarter worth $29,000. JPL Wealth Management LLC acquired a new position in Waste Management in the 3rd quarter worth about $30,000. Finally, Main Street Group LTD bought a new position in Waste Management in the first quarter valued at about $31,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. UBS Group raised their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Barclays boosted their target price on shares of Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. TD Cowen upped their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Scotiabank raised their price target 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. Thirteen 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $258.89.

Waste Management Stock Down 0.1%

Shares of NYSE WM opened at $223.87 on Monday. The company's 50 day moving average price is $228.06 and its 200-day moving average price is $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, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The company has a market capitalization of $89.48 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings data 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. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same period in the prior year, the company posted $1.92 earnings per share. Waste Management's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current 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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