B. Metzler seel. Sohn & Co. AG Acquires 10,667 Shares of Waste Management, Inc. $WM

Key Points

• B. Metzler seel. Sohn & Co. AG increased its Waste Management stake by 8.3% in the second quarter, adding 10,667 shares to own 138,650 shares valued at approximately $30.9 million. Institutional investors collectively hold 80.4% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $258.89. Recent targets ranged from $260 to $269, although one analyst downgraded the stock to “hold.”
• Waste Management reported quarterly earnings of $2.02 per share, beating estimates of $1.98, while revenue rose 4% year over year to $6.68 billion. The company also declared a quarterly dividend of $0.945 per share, equivalent to a 1.7% yield.

B. Metzler seel. Sohn & Co. AG increased its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 8.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 138,650 shares of the business services provider's stock after buying an additional 10,667 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Waste Management were worth $30,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RHL Group LLC purchased a new stake in Waste Management in the fourth quarter worth approximately $29,000. Financial Network Wealth Advisors LLC raised its stake in 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 buying an additional 47 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of Waste Management during the 4th quarter valued at $29,000. JPL Wealth Management LLC purchased a new position in shares of Waste Management in the 3rd quarter worth $30,000. Finally, Main Street Group LTD bought a new stake in shares of Waste Management in the first quarter worth $31,000. Institutional investors own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

WM has been the topic of a number of recent research reports. Oppenheimer lowered their target price on Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a report on Wednesday, July 8th. Citigroup upped their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Scotiabank raised their price objective on shares of Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. Stifel Nicolaus boosted their target price on shares of Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce cut shares of Waste Management from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Waste Management Trading Down 0.3%

Waste Management stock opened at $219.17 on Thursday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The firm has a market capitalization of $87.60 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 2.77 and a beta of 0.42. The firm has a 50 day moving average of $228.65 and a 200 day moving average of $227.32. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24.

Waste Management (NYSE:WM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The company's revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Waste Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 11th. Waste Management's payout ratio is presently 53.54%.

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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