KBC Group NV Sells 23,500 Shares of Waste Management, Inc. $WM

Key Points

• KBC Group NV reduced its Waste Management stake by 5.7% in the second quarter, selling 23,500 shares and retaining 386,241 shares valued at approximately $86.1 million. Institutional investors collectively own 80.4% of the company.
• Analysts remain broadly positive, with 13 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $258.89.
• Waste Management reported quarterly EPS of $2.02, beating estimates of $1.98, while revenue rose 4% year over year to $6.68 billion, slightly below expectations.

KBC Group NV cut its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 5.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 386,241 shares of the business services provider's stock after selling 23,500 shares during the period. KBC Group NV owned approximately 0.10% of Waste Management worth $86,086,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Boston Common Asset Management LLC increased its holdings in Waste Management by 12.9% in the 2nd quarter. Boston Common Asset Management LLC now owns 55,895 shares of the business services provider's stock valued at $12,458,000 after buying an additional 6,391 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in shares of Waste Management during the 4th quarter worth approximately $10,206,000. Principal Financial Group Inc. boosted its position in shares of Waste Management by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider's stock worth $105,776,000 after acquiring an additional 14,003 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Waste Management by 18.5% in the fourth quarter. KLP Kapitalforvaltning AS now owns 236,153 shares of the business services provider's stock valued at $51,885,000 after acquiring an additional 36,900 shares during the last quarter. Finally, Directional Asset Management acquired a new position in Waste Management during the fourth quarter valued at approximately $1,361,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Analyst Upgrades and Downgrades

WM has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. Barclays boosted their price target on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Stifel Nicolaus raised their price objective on Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Citigroup lifted their target price on Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Scotiabank boosted their target price 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. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Stock Performance

NYSE WM opened at $223.95 on Tuesday. The firm's fifty day moving average price is $227.77 and its two-hundred day moving average price is $227.81. The stock has a market cap of $89.52 billion, a PE ratio of 31.72, a PEG ratio of 2.76 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, Inc. has a fifty-two week low of $194.11 and a fifty-two week high of $248.13.

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

About Waste Management

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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