Waste Management, Inc. $WM Stake Lessened by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies cut its Waste Management stake by 92.5% in the second quarter, retaining 1,024 shares valued at approximately $229,000. Institutional investors and hedge funds collectively own 80.4% of WM.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $258.89.
• Waste Management reported quarterly EPS of $2.02, beating expectations of $1.98, while revenue rose 4% year over year to $6.68 billion, slightly below estimates.

Insight Wealth Strategies LLC lessened its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 92.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,024 shares of the business services provider's stock after selling 12,578 shares during the period. Insight Wealth Strategies LLC's holdings in Waste Management were worth $229,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WM. Norges Bank acquired a new stake in Waste Management during the 4th quarter worth about $1,022,916,000. Corient Private Wealth LLC lifted its position in shares of Waste Management by 279.0% in the fourth quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider's stock worth $236,387,000 after purchasing an additional 792,037 shares in the last quarter. Diamant Asset Management Inc. boosted its holdings in shares of Waste Management by 23,051.5% during the first quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider's stock worth $17,716,000 after purchasing an additional 767,615 shares during the period. Balyasny Asset Management L.P. grew its position in Waste Management by 3,209.2% during the third quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider's stock valued at $150,466,000 after purchasing an additional 660,776 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Waste Management by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider's stock valued at $8,566,508,000 after buying an additional 553,605 shares during the period. 80.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a research note on Thursday, July 16th. TD Cowen upped their price target on shares of Waste Management from $270.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Citigroup lifted their price objective on Waste Management from $263.00 to $269.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Wells Fargo & Company lowered their target price on Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce downgraded Waste Management from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Stock Performance

Shares of WM opened at $226.19 on Thursday. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.44. The company's fifty day moving average is $227.43 and its 200-day moving average is $227.93. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. 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 released its quarterly earnings data 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. The business had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. Waste Management's quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. Equities analysts expect that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

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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