Sumitomo Mitsui DS Asset Management Company Ltd Has $21.05 Million Stock Position in Waste Management, Inc. $WM

Key Points

• Sumitomo Mitsui DS Asset Management increased its Waste Management stake by 7.3% in the second quarter, bringing its holdings to 94,454 shares valued at $21.05 million. Institutional investors collectively own 80.4% of the company.
• Waste Management reported quarterly EPS of $2.02, beating estimates of $1.98, while revenue rose 4.0% year over year to $6.68 billion, slightly below expectations.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $258.89, compared with the stock’s reported opening price of $224.44.

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Waste Management, Inc. (NYSE:WM - Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,454 shares of the business services provider's stock after buying an additional 6,435 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Waste Management were worth $21,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. PBU The Pension Fund of Early Childhood & Youth Educators bought a new stake in Waste Management during the 4th quarter valued at $10,206,000. Principal Financial Group Inc. lifted its stake in shares of Waste Management by 3.1% in the first quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider's stock valued at $105,776,000 after buying an additional 14,003 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in shares of Waste Management by 18.5% during the fourth quarter. KLP Kapitalforvaltning AS now owns 236,153 shares of the business services provider's stock valued at $51,885,000 after buying an additional 36,900 shares during the last quarter. LBP AM SA increased its position in shares of Waste Management by 24.1% during the fourth quarter. LBP AM SA now owns 46,640 shares of the business services provider's stock worth $10,247,000 after acquiring an additional 9,071 shares in the last quarter. Finally, Directional Asset Management bought a new stake in shares of Waste Management during the fourth quarter worth about $1,361,000. Institutional investors own 80.40% of the company's stock.

Waste Management Stock Performance

WM stock opened at $224.44 on Friday. 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 has a market cap of $89.71 billion, a PE ratio of 31.79, a P/E/G ratio of 2.78 and a beta of 0.44. The business has a 50 day moving average of $227.53 and a 200-day moving average of $227.90. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM - Get Free Report) last issued 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. The business 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 period last year, the company posted $1.92 earnings per share. As a group, sell-side analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WM. UBS Group raised their price target 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. TD Cowen raised their target price on Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Scotiabank lifted their target price on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded Waste Management from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, August 7th. Finally, Oppenheimer lowered their price target on Waste Management from $264.00 to $263.00 and set an "outperform" rating for the company in a research report on Wednesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $258.89.

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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