Massachusetts Financial Services Co. MA Raises Stock Position in Waste Management, Inc. $WM

Massachusetts Financial Services Co. MA raised its stake in shares of Waste Management, Inc. (NYSE:WM) by 18.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 510,232 shares of the business services provider’s stock after acquiring an additional 79,710 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Waste Management were worth $117,063,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Elevated Capital Advisors LLC acquired a new position in shares of Waste Management during the 4th quarter worth about $25,000. RHL Group LLC acquired a new stake in Waste Management in the 4th quarter worth about $29,000. Financial Network Wealth Advisors LLC boosted its holdings in Waste Management by 55.3% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock worth $29,000 after buying an additional 47 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in Waste Management during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Waste Management during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Up 0.1%

Shares of Waste Management stock opened at $224.73 on Monday. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $227.62 and its 200-day simple moving average is $227.86. The stock has a market cap of $89.83 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.76 and a beta of 0.44. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13.

Waste Management (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS 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 during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the firm earned $1.92 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts predict that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WM has been the topic of several research reports. Canadian Imperial Bank of Commerce downgraded Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Stifel Nicolaus increased their price objective on Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Oppenheimer decreased their price objective on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. TD Cowen lifted their target price 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. Finally, Weiss Ratings raised shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.