Madison Asset Management LLC purchased a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 26,751 shares of the business services provider's stock, valued at approximately $5,962,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of WM. Norges Bank bought a new position in shares of Waste Management during the fourth quarter valued at approximately $1,022,916,000. Corient Private Wealth LLC grew its stake in shares of Waste Management by 279.0% in the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock worth $236,387,000 after buying an additional 792,037 shares during the last quarter. Diamant Asset Management Inc. increased its position in Waste Management by 23,051.5% during the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock valued at $17,716,000 after buying an additional 767,615 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock valued at $150,466,000 after buying an additional 660,776 shares during the last quarter. Finally, Danske Bank A S bought a new stake in Waste Management in the second quarter worth $146,053,000. Hedge funds and other institutional investors own 80.40% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on WM shares. 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 report on Thursday, April 30th. UBS Group increased their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Oppenheimer reduced their price objective on shares of Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Waste Management from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 7th. Finally, Scotiabank upped their target price on shares of 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 analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.89.
Check Out Our Latest Research Report on Waste Management
Waste Management Price Performance
WM opened at $225.17 on Friday. The company's 50-day simple moving average is $227.96 and its two-hundred day simple moving average is $227.79. 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 stock has a market capitalization of $90.00 billion, a P/E ratio of 31.89, a P/E/G ratio of 2.77 and a beta of 0.44. 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 announced its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.04. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The firm had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business posted $1.92 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts predict that Waste Management, Inc. will post 8.13 EPS for the current year.
Waste Management Profile
(
Free Report)
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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