VCI Wealth Management LLC Acquires 2,289 Shares of Waste Management, Inc. $WM

VCI Wealth Management LLC boosted its stake in Waste Management, Inc. (NYSE:WM) by 30.5% during the second quarter, Holdings Channel.com reports. The firm owned 9,796 shares of the business services provider’s stock after buying an additional 2,289 shares during the period. VCI Wealth Management LLC’s holdings in Waste Management were worth $2,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after buying an additional 2,320 shares during the period. Sprott Inc. bought a new stake in Waste Management during the 1st quarter valued at approximately $325,000. Sei Investments Co. raised its position in shares of Waste Management by 8.0% in the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after acquiring an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Waste Management by 68.2% during the second quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after purchasing an additional 148,590 shares in the last quarter. Finally, Glenview Trust co grew its stake in Waste Management by 5.1% in the second quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after purchasing an additional 162 shares during the period. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of NYSE:WM opened at $223.95 on Tuesday. The company has a market capitalization of $89.52 billion, a P/E ratio of 31.72, 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. The firm’s 50 day simple moving average is $227.77 and its two-hundred day simple moving average is $227.81. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.91 and a quick ratio of 0.87.

Waste Management (NYSE:WM) last released its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping 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 business posted $1.92 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Research analysts expect that Waste Management, Inc. will post 8.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WM shares. Royal Bank Of Canada upped their price target on Waste Management from $240.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. TD Cowen boosted their target price on Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Barclays raised their price target on Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Stifel Nicolaus upped their price target on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Citigroup raised their price objective on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company 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.