157,721 Shares in Waste Management, Inc. $WM Acquired by Blue Whale Capital LLP

Key Points

• Blue Whale Capital acquired 157,721 Waste Management shares during the second quarter, valued at approximately $35.2 million. The position represents about 1.1% of the firm’s portfolio, while institutional investors and hedge funds collectively own 80.4% of WM.
• Waste Management reported quarterly earnings of $2.02 per share, exceeding estimates of $1.98, although revenue of $6.68 billion fell slightly short of forecasts. Revenue increased 4% year over year, and analysts expect full-year EPS of $8.13.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $258.89. WM opened at $223.87, below its 52-week high of $248.13.

Blue Whale Capital LLP acquired a new stake in Waste Management, Inc. (NYSE:WM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 157,721 shares of the business services provider's stock, valued at approximately $35,153,000. Waste Management makes up approximately 1.1% of Blue Whale Capital LLP's portfolio, making the stock its 21st biggest position.

A number of other institutional investors have also made changes to their positions in the company. Bey Douglas LLC increased its stake in Waste Management by 3.7% during the 4th quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider's stock worth $271,000 after buying an additional 44 shares during the period. Cassaday & Co Wealth Management LLC boosted its position in Waste Management by 1.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider's stock valued at $527,000 after buying an additional 45 shares during the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Waste Management by 10.2% during the first quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider's stock valued at $111,000 after acquiring an additional 45 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Waste Management by 0.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 6,348 shares of the business services provider's stock valued at $1,395,000 after acquiring an additional 46 shares in the last quarter. Finally, Cornerstone Advisory LLC increased its position in shares of Waste Management by 1.6% during the first quarter. Cornerstone Advisory LLC now owns 2,973 shares of the business services provider's stock worth $683,000 after acquiring an additional 46 shares during the last quarter. 80.40% of the stock is owned by institutional investors and hedge funds.

Waste Management Stock Performance

Shares of WM stock opened at $223.87 on Monday. 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 business has a 50 day moving average of $228.06 and a two-hundred day moving average of $227.79. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The company has a market cap of $89.48 billion, a P/E ratio of 31.71, a PEG ratio of 2.83 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last issued its 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. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period last year, the company earned $1.92 earnings per share. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts anticipate that Waste Management, Inc. will post 8.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada increased their price target on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Wells Fargo & Company decreased their price objective on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Citigroup lifted their price target on Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Stifel Nicolaus upped their price objective on Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce cut Waste Management from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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