Janney Montgomery Scott LLC Has $69.09 Million Holdings in Waste Management, Inc. $WM

Key Points

• Janney Montgomery Scott increased its Waste Management position by 5.2% in the second quarter, bringing its holdings to 310,008 shares valued at approximately $69.1 million. Institutional investors collectively own 80.4% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and 7 Holds, producing a consensus rating of “Moderate Buy” and an average price target of $258.89.
• 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.

Janney Montgomery Scott LLC raised its position in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 5.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,008 shares of the business services provider's stock after acquiring an additional 15,246 shares during the period. Janney Montgomery Scott LLC owned approximately 0.08% of Waste Management worth $69,095,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Elevated Capital Advisors LLC acquired a new stake in Waste Management during the 4th quarter worth approximately $25,000. RHL Group LLC bought a new position in Waste Management during the 4th quarter worth $29,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of 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 worth $29,000 after buying an additional 47 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management in the fourth quarter valued at about $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Waste Management in the third quarter valued at about $30,000. Institutional investors own 80.40% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on WM shares. Stifel Nicolaus lifted their price objective on shares of Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lowered shares of Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Wells Fargo & Company dropped their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Scotiabank boosted their price target on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Thursday, July 16th. Finally, Oppenheimer reduced their price target on Waste Management from $264.00 to $263.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.89.

Waste Management Trading Down 0.3%

Shares of Waste Management stock opened at $223.95 on Tuesday. The firm's 50-day moving average price is $227.77 and its two-hundred day moving average price is $227.81. The company has a market capitalization of $89.52 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 2.76 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, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13.

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 for the quarter, topping analysts' consensus estimates of $1.98 by $0.04. The company had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The firm's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 EPS. On average, analysts forecast 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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