Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Waste Management, Inc. $WM

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Waste Management, Inc. (NYSE:WM) by 7.3% during the second quarter, HoldingsChannel reports. The firm owned 94,454 shares of the business services provider’s stock after acquiring 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of WM. Drive Wealth Management LLC grew its holdings in Waste Management by 2.4% during the second quarter. Drive Wealth Management LLC now owns 3,768 shares of the business services provider’s stock valued at $840,000 after purchasing an additional 90 shares during the period. MFA Wealth Services raised its stake in shares of Waste Management by 5.6% in the second quarter. MFA Wealth Services now owns 2,116 shares of the business services provider’s stock valued at $472,000 after buying an additional 112 shares during the period. Norris Perne & French LLP MI lifted its position in shares of Waste Management by 3.5% during the 2nd quarter. Norris Perne & French LLP MI now owns 77,886 shares of the business services provider’s stock valued at $17,359,000 after buying an additional 2,636 shares during the last quarter. Boston Common Asset Management LLC grew its stake in shares of Waste Management by 12.9% during the 2nd quarter. Boston Common Asset Management LLC now owns 55,895 shares of the business services provider’s stock worth $12,458,000 after acquiring an additional 6,391 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in Waste Management by 6.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 53,766 shares of the business services provider’s stock worth $11,983,000 after acquiring an additional 3,232 shares during the last quarter. 80.40% of the stock is owned by institutional investors.

Waste Management Stock Down 0.8%

Shares of NYSE WM 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 company has a market cap of $89.71 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.78 and a beta of 0.44. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13. The business has a 50-day simple moving average of $227.53 and a two-hundred day simple moving average of $227.90.

Waste Management (NYSE:WM) last announced its quarterly 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 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 period in the prior year, the business posted $1.92 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WM shares. Canadian Imperial Bank of Commerce cut Waste Management from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Oppenheimer reduced their target price on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. UBS Group boosted 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. Stifel Nicolaus raised their price objective on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Barclays lifted their price objective on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Waste Management 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.