Alpine Woods Capital Investors LLC Has $6.83 Million Stake in Waste Management, Inc. $WM

Key Points

• Alpine Woods Capital Investors increased its Waste Management stake by 23.9% in the second quarter, holding 30,639 shares valued at approximately $6.83 million. Institutional investors collectively own 80.4% of WM.
• Waste Management reported quarterly EPS of $2.02, exceeding estimates of $1.98, while revenue rose 4.0% year over year to $6.68 billion, slightly below expectations.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $258.89, compared with the reported share price of $225.17.

Alpine Woods Capital Investors LLC increased its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 23.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,639 shares of the business services provider's stock after purchasing an additional 5,916 shares during the period. Waste Management makes up about 1.5% of Alpine Woods Capital Investors LLC's portfolio, making the stock its 15th biggest holding. Alpine Woods Capital Investors LLC's holdings in Waste Management were worth $6,829,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WM. RHL Group LLC acquired a new stake in shares of Waste Management during the fourth quarter worth $29,000. Financial Network Wealth Advisors LLC grew its stake in shares of 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 valued at $29,000 after acquiring an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new position in Waste Management during the fourth quarter worth about $29,000. JPL Wealth Management LLC bought a new position in Waste Management during the third quarter worth about $30,000. Finally, Main Street Group LTD acquired a new stake in Waste Management in the 1st quarter worth about $31,000. 80.40% of the stock is currently owned by institutional investors.

Waste Management Stock Performance

Shares of Waste Management stock opened at $225.17 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The company has a market cap of $90.00 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 2.77 and a beta of 0.44. The company has a 50 day moving average of $227.96 and a 200-day moving average of $227.79. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business had revenue of $6.68 billion for the quarter, compared to analysts' expectations of $6.71 billion. During the same period last year, the firm posted $1.92 earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WM has been the topic of a number of analyst reports. Barclays increased their target price on shares of Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Citigroup boosted their price target on Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Royal Bank Of Canada raised their price objective on Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Wells Fargo & Company dropped their price objective on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Finally, 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. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source