Wealthfront Advisers LLC Boosts Stock Position in Waste Management, Inc. $WM

Key Points

• Wealthfront Advisers increased its Waste Management position by 23.6% in the second quarter, adding 19,558 shares to hold 102,313 shares valued at approximately $22.8 million. Institutional investors own 80.4% of the company.
• Analyst sentiment remains positive, with 13 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $258.89.
• Waste Management reported quarterly EPS of $2.02, beating estimates of $1.98, while revenue rose 4% year over year to $6.68 billion, slightly below expectations.

Wealthfront Advisers LLC raised its holdings in Waste Management, Inc. (NYSE:WM - Free Report) by 23.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,313 shares of the business services provider's stock after purchasing an additional 19,558 shares during the quarter. Wealthfront Advisers LLC's holdings in Waste Management were worth $22,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in WM. Broadway Wealth Solutions Inc. grew its position in Waste Management by 2.8% during the fourth quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider's stock valued at $349,000 after buying an additional 44 shares during the period. Bey Douglas LLC raised its position in Waste Management by 3.7% in the fourth quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider's stock worth $271,000 after acquiring an additional 44 shares during the period. Cassaday & Co Wealth Management LLC raised its position in Waste Management by 1.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider's stock worth $527,000 after acquiring an additional 45 shares during the period. Physician Wealth Advisors Inc. boosted its stake in Waste Management by 10.2% in the first quarter. Physician Wealth Advisors Inc. now owns 485 shares of the business services provider's stock valued at $111,000 after acquiring an additional 45 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of Waste Management by 0.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 6,348 shares of the business services provider's stock valued at $1,395,000 after acquiring an additional 46 shares during the period. 80.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on WM shares. Wells Fargo & Company lowered their price target on shares of Waste Management from $273.00 to $268.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Scotiabank increased their price objective on Waste Management from $250.00 to $260.00 and gave the company a "sector perform" rating in a report on Thursday, July 16th. Weiss Ratings raised Waste Management from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, August 7th. Barclays upped their price target on Waste Management from $270.00 to $277.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Finally, UBS Group increased their price target on Waste Management from $265.00 to $270.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. 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, the company has a consensus rating of "Moderate Buy" and an average price target of $258.89.

Waste Management Trading Up 0.0%

Shares of Waste Management stock opened at $225.17 on Friday. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. 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 market cap of $90.00 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.77 and a beta of 0.44. The company's 50-day moving average price is $227.96 and its 200-day moving average price is $227.79.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the company posted $1.92 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Waste Management Company 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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