Constitution Capital LLC Reduces Stake in Waste Management, Inc. $WM

Key Points

• Constitution Capital LLC cut its Waste Management stake by 52.3% in the second quarter, selling 6,425 shares and retaining 5,860 shares valued at approximately $1.31 million.
• Waste Management reported quarterly EPS of $2.02, beating estimates by $0.04, while revenue rose 4% year over year to $6.68 billion, slightly below expectations.
• Analyst sentiment remains positive, with 13 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $258.89, compared with shares trading near $226.52.

Constitution Capital LLC lowered its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 52.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,860 shares of the business services provider's stock after selling 6,425 shares during the period. Constitution Capital LLC's holdings in Waste Management were worth $1,306,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WM. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in shares of Waste Management during the 4th quarter valued at approximately $10,206,000. Principal Financial Group Inc. grew its stake in Waste Management by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider's stock valued at $105,776,000 after buying an additional 14,003 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in Waste Management by 18.5% during the 4th quarter. KLP Kapitalforvaltning AS now owns 236,153 shares of the business services provider's stock valued at $51,885,000 after acquiring an additional 36,900 shares during the period. LBP AM SA lifted its position in shares of Waste Management by 24.1% during the fourth quarter. LBP AM SA now owns 46,640 shares of the business services provider's stock worth $10,247,000 after acquiring an additional 9,071 shares in the last quarter. Finally, Roof Eidam Maycock Peralta LLC bought a new position in shares of Waste Management in the fourth quarter worth $1,211,000. Institutional investors own 80.40% of the company's stock.

Waste Management Price Performance

Shares of NYSE WM opened at $226.52 on Tuesday. The stock's 50-day simple moving average is $226.97 and its two-hundred day simple moving average is $227.95. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The firm has a market capitalization of $90.54 billion, a P/E ratio of 32.08, a P/E/G ratio of 2.80 and a beta of 0.44. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results 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 return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company posted $1.92 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Barclays upped their price target on Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research report on Thursday, July 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 research report on Tuesday, August 4th. Citigroup upped their target price on shares of Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Finally, Oppenheimer lowered their target price on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 8th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Waste Management presently has an average rating of "Moderate Buy" and an average 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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