Mirae Asset Global Investments Co. Ltd. Sells 7,140 Shares of Waste Management, Inc. $WM

Key Points

• Mirae Asset Global Investments reduced its Waste Management stake by 8.1%, selling 7,140 shares and retaining 81,103 shares valued at approximately $18.1 million.
• 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.
• Analysts remain broadly positive, with 13 Buy ratings and seven Holds, resulting in a “Moderate Buy” consensus and an average price target of $258.89 versus the stock’s $224.44 opening price.

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 8.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,103 shares of the business services provider's stock after selling 7,140 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Waste Management were worth $18,076,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Elevated Capital Advisors LLC purchased a new stake in Waste Management in the fourth quarter worth approximately $25,000. RHL Group LLC purchased a new stake in Waste Management during the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of Waste Management by 55.3% during the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock valued at $29,000 after buying an additional 47 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in shares of Waste Management in the 4th quarter worth $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Waste Management in the 3rd quarter worth $30,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

Waste Management Price Performance

Shares of Waste Management stock opened at $224.44 on Friday. The stock has a market cap of $89.71 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 2.78 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 stock has a 50 day moving average price of $227.53 and a 200-day moving average price of $227.90. Waste Management, Inc. has a one year low of $194.11 and a one year 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 company had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.Waste Management's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 EPS. Equities analysts expect that Waste Management, Inc. will post 8.14 EPS for the current year.

Analyst Ratings Changes

WM has been the subject of a number of recent research reports. UBS Group boosted their price target on Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Wells Fargo & Company decreased their target price on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Barclays boosted their price objective on Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Robert W. Baird upped their target price on shares of Waste Management from $248.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, April 16th. Finally, Citigroup increased their price target on Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $258.89.

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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