Mitsubishi UFJ Asset Management Co. Ltd. Acquires 69,699 Shares of Waste Management, Inc. $WM

Key Points

• Mitsubishi UFJ Asset Management increased its Waste Management stake by 7.9% in the second quarter, purchasing 69,699 shares to hold 946,770 shares valued at approximately $211 million.
• Waste Management reported quarterly EPS of $2.02, beating estimates of $1.98, while revenue rose 4% year over year to $6.68 billion but fell slightly short of expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $258.89, although valuation concerns remain as the stock trades at a relatively high forward earnings multiple.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Waste Management, Inc. (NYSE:WM - Free Report) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 946,770 shares of the business services provider's stock after purchasing an additional 69,699 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.24% of Waste Management worth $211,016,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RHL Group LLC acquired a new stake in Waste Management during the fourth quarter worth about $29,000. Financial Network Wealth Advisors LLC lifted its position in shares of Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider's stock worth $29,000 after acquiring an additional 47 shares during the period. Mcguire Capital Advisors Inc. bought a new stake in shares of Waste Management during the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC acquired a new position in shares of Waste Management in the third quarter valued at $30,000. Finally, Main Street Group LTD acquired a new stake in Waste Management during the first quarter worth $31,000. Institutional investors own 80.40% of the company's stock.

Waste Management News Roundup

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Waste Management has generated a 58.6% total stock gain over the past five years, reflecting the company’s defensive business profile and relatively consistent long-term performance. Its discounted-cash-flow valuation was described as approximately in line with the share price, which may support the view that the stock is not materially overvalued under cash-flow assumptions. Where Does Waste Management (WM) Value Sit After A 59% Gain?
• Neutral Sentiment: Recent “waste management stocks” coverage provides general sector context but does not identify a new development specific to Waste Management that would materially change its earnings outlook. Waste Management Stocks To Consider - August 15th
• Negative Sentiment: The valuation analysis flags a low value score and indicates that earnings-based multiples place WM at a premium. With the stock trading near its 50-day and 200-day averages and at a forward earnings valuation that is not inexpensive, concerns about limited upside or elevated valuation could weigh on investor enthusiasm.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Waste Management from $240.00 to $244.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Scotiabank lifted their price objective on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Thursday, July 16th. Canadian Imperial Bank of Commerce downgraded Waste Management from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. Barclays increased their price objective on Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Finally, UBS Group boosted their target price on shares of Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. 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, Waste Management has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Price Performance

Shares of WM stock opened at $225.05 on Thursday. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The stock has a market capitalization of $89.95 billion, a PE ratio of 31.88, a PEG ratio of 2.75 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's fifty day moving average is $227.84 and its 200-day moving average is $227.77.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion during the quarter, compared to analysts' expectations of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 earnings per share. Equities research analysts expect that Waste Management, Inc. will post 8.14 EPS 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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