Fifth Third Bancorp Sells 15,320 Shares of Waste Management, Inc. $WM

Key Points

• Fifth Third Bancorp reduced its Waste Management stake by 4.8%, selling 15,320 shares and retaining 305,195 shares valued at approximately $68.0 million. Institutional investors collectively own 80.4% of the company.
• Analyst sentiment remains favorable, with 13 Buy ratings and seven Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $258.89.
• Waste Management reported quarterly EPS of $2.02, topping estimates of $1.98, while revenue reached $6.68 billion and increased 4% year over year. The stock opened at $223.95, down 0.3%.

Fifth Third Bancorp lowered its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,195 shares of the business services provider's stock after selling 15,320 shares during the quarter. Fifth Third Bancorp owned 0.08% of Waste Management worth $68,022,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WM. North Dakota State Investment Board boosted its stake in Waste Management by 2.6% during the second quarter. North Dakota State Investment Board now owns 11,001 shares of the business services provider's stock worth $2,452,000 after acquiring an additional 284 shares in the last quarter. VCI Wealth Management LLC increased its stake in Waste Management by 30.5% in the second quarter. VCI Wealth Management LLC now owns 9,796 shares of the business services provider's stock valued at $2,183,000 after purchasing an additional 2,289 shares in the last quarter. Midwest Trust Co raised its holdings in shares of Waste Management by 1.2% during the second quarter. Midwest Trust Co now owns 98,061 shares of the business services provider's stock valued at $21,856,000 after purchasing an additional 1,115 shares during the period. Sacks & Associates LLC bought a new position in shares of Waste Management during the 2nd quarter worth about $379,000. Finally, 111 Capital acquired a new stake in shares of Waste Management in the 2nd quarter valued at about $375,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank upped their price target on Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. UBS Group raised their price objective on Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Wells Fargo & Company decreased 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. Citigroup upped their target price on Waste Management from $263.00 to $269.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Weiss Ratings raised shares of Waste Management from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.89.

Waste Management Trading Down 0.3%

WM opened at $223.95 on Tuesday. Waste Management, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13. The firm has a market capitalization of $89.52 billion, a PE ratio of 31.72, a P/E/G ratio of 2.76 and a beta of 0.44. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. The company's 50-day moving average is $227.77 and its 200 day moving average is $227.81.

Waste Management (NYSE:WM - Get Free Report) last released 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. The business had revenue of $6.68 billion during 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 quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 EPS. As a group, research analysts predict that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

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.

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