Sunpointe LLC Acquires Shares of 4,947 Waste Management, Inc. $WM

Key Points

• Sunpointe LLC acquired 4,947 shares of Waste Management during the second quarter, valued at approximately $1.1 million. Institutional investors and hedge funds collectively own 80.4% of WM’s outstanding stock.
• Waste Management reported quarterly EPS of $2.02, exceeding estimates of $1.98, while revenue rose 4% year over year to $6.68 billion, slightly below analyst expectations.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $258.89, compared with the stock’s reported price of $224.73.

Sunpointe LLC bought a new stake in Waste Management, Inc. (NYSE:WM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,947 shares of the business services provider's stock, valued at approximately $1,103,000.

Several other hedge funds have also recently modified their holdings of WM. Fortis Group Advisors LLC raised its holdings in shares of Waste Management by 211.8% during the second quarter. Fortis Group Advisors LLC now owns 22,312 shares of the business services provider's stock valued at $4,973,000 after acquiring an additional 15,155 shares during the last quarter. Boston Trust Walden Corp boosted its stake in shares of Waste Management by 1.0% in the second quarter. Boston Trust Walden Corp now owns 99,480 shares of the business services provider's stock worth $22,172,000 after acquiring an additional 1,029 shares during the last quarter. Perryman Financial Advisory Inc. AD increased its position in shares of Waste Management by 2.4% during the second quarter. Perryman Financial Advisory Inc. AD now owns 60,249 shares of the business services provider's stock worth $13,428,000 after purchasing an additional 1,433 shares in the last quarter. MBM Wealth Consultants LLC raised its stake in Waste Management by 14.3% in the 2nd quarter. MBM Wealth Consultants LLC now owns 9,699 shares of the business services provider's stock valued at $2,162,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Freedom Day Solutions LLC purchased a new position in Waste Management in the 2nd quarter valued at $500,000. Institutional investors and hedge funds own 80.40% of the company's stock.

Waste Management Price Performance

Waste Management stock opened at $224.73 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.24. The company has a 50-day moving average price of $227.62 and a 200 day moving average price of $227.86. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The stock has a market cap of $89.83 billion, a P/E ratio of 31.83, a PEG ratio of 2.76 and a beta of 0.44.

Waste Management (NYSE:WM - Get Free Report) last posted its 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. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business posted $1.92 EPS. Waste Management's revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

WM has been the topic of several recent research reports. Barclays lifted their target price on shares of Waste Management from $270.00 to $277.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Stifel Nicolaus boosted their price target on shares of Waste Management from $252.00 to $261.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. UBS Group upped their price objective 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. Weiss Ratings raised shares of Waste Management from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, August 7th. Finally, TD Cowen upped their price target on Waste Management from $270.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Management has a consensus rating of "Moderate Buy" and an average 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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