Quantitative Investment Management LLC Makes New Investment in Waste Management, Inc. $WM

Key Points

• Quantitative Investment Management LLC initiated a position in Waste Management during the second quarter, buying 7,230 shares valued at approximately $1.61 million. Institutional investors collectively own 80.4% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and seven Holds. Waste Management has a consensus “Moderate Buy” rating and an average price target of $258.89.
• Waste Management exceeded quarterly EPS expectations, reporting $2.02 versus the $1.98 consensus estimate, while revenue rose 4% year over year to $6.68 billion. The company also declared a quarterly dividend of $0.945 per share, representing a 1.7% yield.

Quantitative Investment Management LLC acquired a new position in Waste Management, Inc. (NYSE:WM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,230 shares of the business services provider's stock, valued at approximately $1,611,000.

A number of other large investors also recently added to or reduced their stakes in WM. Financial Network Wealth Advisors LLC grew its stake in shares of Waste Management by 55.3% during the fourth 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 last quarter. RHL Group LLC bought a new stake in shares of Waste Management in the 4th quarter valued at about $29,000. Mcguire Capital Advisors Inc. purchased a new stake in Waste Management during the 4th quarter valued at about $29,000. JPL Wealth Management LLC bought a new position in Waste Management during the 3rd quarter worth approximately $30,000. Finally, Main Street Group LTD bought a new position in Waste Management during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WM. 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. UBS Group upped their price target on shares of Waste Management from $265.00 to $270.00 and gave the company a "buy" rating in a report on Tuesday, August 4th. Stifel Nicolaus increased their price target on shares of Waste Management from $252.00 to $261.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Royal Bank Of Canada boosted their price objective on shares of Waste Management from $240.00 to $244.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Finally, Barclays upped their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Waste Management presently has an average rating of "Moderate Buy" and a consensus price target of $258.89.

Waste Management Stock Performance

NYSE:WM opened at $219.38 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The firm's fifty day simple moving average is $228.72 and its 200 day simple moving average is $227.51. The stock has a market cap of $87.69 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.44. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last posted its earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS 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 firm had revenue of $6.68 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same period last year, the company posted $1.92 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that Waste Management, Inc. will post 8.13 EPS for the current year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.945 per share. The ex-dividend date is Friday, September 11th. This represents a $3.78 dividend on an annualized basis and a dividend yield of 1.7%. Waste Management's dividend payout ratio is 53.54%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source