Strategic Wealth Investment Group LLC Lowers Stock Position in Waste Management, Inc. $WM

Key Points

• Strategic Wealth Investment Group LLC reduced its Waste Management stake by 22.1% in the second quarter, selling 6,254 shares and retaining 21,999 shares worth approximately $4.9 million. Institutional investors collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, exceeding analyst expectations of $1.98, while revenue rose 4% year over year to $6.68 billion but came in slightly below estimates.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $258.89, compared with the stock’s reported opening price of $223.95.

Strategic Wealth Investment Group LLC cut its stake in shares of Waste Management, Inc. (NYSE:WM - Free Report) by 22.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,999 shares of the business services provider's stock after selling 6,254 shares during the period. Strategic Wealth Investment Group LLC's holdings in Waste Management were worth $4,903,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Elevated Capital Advisors LLC purchased a new stake in Waste Management in the fourth quarter valued at approximately $25,000. RHL Group LLC purchased a new position in shares of Waste Management during the fourth quarter worth $29,000. Financial Network Wealth Advisors LLC grew its stake in shares of Waste Management by 55.3% in 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 in the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in shares of Waste Management in the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Waste Management in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 80.40% of the company's stock.

Waste Management Trading Down 0.3%

Shares of Waste Management stock opened at $223.95 on Tuesday. 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 1 year low of $194.11 and a 1 year high of $248.13. The company's fifty day moving average is $227.77 and its two-hundred day moving average is $227.81. The company has a market capitalization of $89.52 billion, a P/E ratio of 31.72, a PEG ratio of 2.76 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.04. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion for the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. Analysts forecast that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on WM. Barclays raised their target price on Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Wells Fargo & Company reduced their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Citigroup raised their price objective on shares of Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research note on Friday, July 10th. TD Cowen raised their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Scotiabank increased their price objective on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Thursday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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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