Danske Bank A S Takes Position in Waste Management, Inc. $WM

Key Points

• Danske Bank A/S acquired 655,297 Waste Management shares valued at approximately $146.1 million, giving it a 0.16% stake. Institutional investors and hedge funds collectively own 80.4% of the company.
• 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, slightly below expectations.
• Analysts maintain a “Moderate Buy” consensus on the stock, with 13 Buy ratings and seven Holds and an average price target of $258.89, compared with a recent share price of $225.17.

Danske Bank A S purchased a new position in Waste Management, Inc. (NYSE:WM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 655,297 shares of the business services provider's stock, valued at approximately $146,053,000. Danske Bank A S owned about 0.16% of Waste Management at the end of the most recent quarter.

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

Waste Management Trading Up 0.0%

Waste Management stock opened at $225.17 on Friday. The business's 50-day simple moving average is $227.96 and its 200-day simple moving average is $227.79. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The firm has a market capitalization of $90.00 billion, a PE ratio of 31.89, a PEG ratio of 2.77 and a beta of 0.44. 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 (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping the consensus estimate of $1.98 by $0.04. The company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.92 EPS. Equities research analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Canadian Imperial Bank of Commerce cut shares of Waste Management from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada increased their price target on shares of Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Citigroup raised their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a report on Friday, July 10th. Oppenheimer decreased their price objective on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Finally, Scotiabank raised their target price on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $258.89.

Waste Management 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.

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