Kavar Capital Partners Group LLC Increases Stock Holdings in Waste Management, Inc. $WM

Key Points

• Kavar Capital Partners increased its Waste Management holdings by 51.1% in the second quarter, bringing its position to 14,207 shares valued at approximately $3.17 million. Institutional investors collectively own 80.4% of the company.
• Waste Management reported quarterly earnings of $2.02 per share, exceeding estimates of $1.98, while revenue rose 4% year over year to $6.68 billion, slightly below expectations.
• Analysts remain broadly positive, with 13 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $258.89, above the reported share price of $226.19.

Kavar Capital Partners Group LLC grew its holdings in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 51.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,207 shares of the business services provider's stock after purchasing an additional 4,803 shares during the quarter. Kavar Capital Partners Group LLC's holdings in Waste Management were worth $3,166,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Waste Management during the fourth quarter valued at approximately $1,022,916,000. Corient Private Wealth LLC raised its position in Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock worth $236,387,000 after acquiring an additional 792,037 shares during the period. Diamant Asset Management Inc. raised its position in Waste Management by 23,051.5% in the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock worth $17,716,000 after acquiring an additional 767,615 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Waste Management by 3,209.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock worth $150,466,000 after acquiring an additional 660,776 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Waste Management by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock valued at $8,566,508,000 after acquiring an additional 553,605 shares during the period. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Down 0.3%

Shares of WM stock opened at $226.19 on Thursday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The company's fifty day moving average price is $227.43 and its 200-day moving average price is $227.93. The company has a market capitalization of $90.41 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.79 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. Waste Management's quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WM has been the topic of a number of recent research reports. Weiss Ratings raised Waste Management from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 7th. Royal Bank Of Canada boosted their price target on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Wells Fargo & Company reduced their price target on Waste Management from $273.00 to $268.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Robert W. Baird raised their price objective on Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Finally, Scotiabank lifted their price objective on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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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