Global Retirement Partners LLC Purchases Shares of 8,010 Waste Management, Inc. $WM

Key Points

• Global Retirement Partners purchased 8,010 Waste Management shares worth approximately $1.785 million in the second quarter. Institutional investors collectively own 80.4% of WM’s outstanding stock.
• Analysts maintain a favorable outlook, with 13 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $258.89.
• Waste Management exceeded quarterly EPS estimates, reporting $2.02 versus $1.98 expected, while revenue rose 4% year over year to $6.68 billion. However, valuation remains a concern, with the stock trading at a relatively high forward earnings multiple.

Global Retirement Partners LLC purchased a new position in shares of Waste Management, Inc. (NYSE:WM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,010 shares of the business services provider's stock, valued at approximately $1,785,000.

Several other hedge funds also recently modified their holdings of the stock. Financial Network Wealth Advisors LLC boosted its position in Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after purchasing an additional 47 shares during the last quarter. RHL Group LLC bought a new position in Waste Management in the fourth quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Waste Management during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC bought a new stake in shares of Waste Management during the 3rd quarter worth approximately $30,000. Finally, Main Street Group LTD acquired a new stake in shares of Waste Management in the 1st quarter valued at approximately $31,000. Institutional investors own 80.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WM. Royal Bank Of Canada boosted their target price on shares of Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Barclays boosted their price objective on shares of Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. UBS Group raised their target price on shares of Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Stifel Nicolaus lifted their price target on Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Scotiabank boosted their price target on Waste Management from $250.00 to $260.00 and gave the stock a "sector perform" rating in a research 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $258.89.

More Waste Management News

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Waste Management has generated a 58.6% total stock gain over the past five years, reflecting the company’s defensive business profile and relatively consistent long-term performance. Its discounted-cash-flow valuation was described as approximately in line with the share price, which may support the view that the stock is not materially overvalued under cash-flow assumptions. Where Does Waste Management (WM) Value Sit After A 59% Gain?
• Neutral Sentiment: Recent “waste management stocks” coverage provides general sector context but does not identify a new development specific to Waste Management that would materially change its earnings outlook. Waste Management Stocks To Consider - August 15th
• Negative Sentiment: The valuation analysis flags a low value score and indicates that earnings-based multiples place WM at a premium. With the stock trading near its 50-day and 200-day averages and at a forward earnings valuation that is not inexpensive, concerns about limited upside or elevated valuation could weigh on investor enthusiasm.

Waste Management Stock Performance

NYSE WM opened at $225.05 on Thursday. The stock has a market cap of $89.95 billion, a PE ratio of 31.88, a P/E/G ratio of 2.75 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. The firm has a 50-day moving average of $227.84 and a 200-day moving average of $227.77. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13.

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 for the quarter, beating the consensus estimate of $1.98 by $0.04. The firm had revenue of $6.68 billion for the quarter, compared to analysts' expectations of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The business's revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 EPS. On average, sell-side analysts anticipate that Waste Management, Inc. will post 8.14 EPS for the current year.

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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