Jennison Associates LLC Grows Stock Position in Waste Management, Inc. $WM

Jennison Associates LLC increased its stake in Waste Management, Inc. (NYSE:WM) by 166.3% in the second quarter, Holdings Channel reports. The institutional investor owned 13,425 shares of the business services provider’s stock after acquiring an additional 8,383 shares during the period. Jennison Associates LLC’s holdings in Waste Management were worth $2,992,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WM. Boston Common Asset Management LLC lifted its stake in Waste Management by 12.9% in the second quarter. Boston Common Asset Management LLC now owns 55,895 shares of the business services provider’s stock worth $12,458,000 after purchasing an additional 6,391 shares during the last quarter. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of Waste Management during the fourth quarter valued at approximately $10,206,000. Principal Financial Group Inc. raised its holdings in shares of Waste Management by 3.1% in the first quarter. Principal Financial Group Inc. now owns 460,317 shares of the business services provider’s stock worth $105,776,000 after buying an additional 14,003 shares during the period. KLP Kapitalforvaltning AS lifted its stake in shares of Waste Management by 18.5% during the 4th quarter. KLP Kapitalforvaltning AS now owns 236,153 shares of the business services provider’s stock worth $51,885,000 after acquiring an additional 36,900 shares during the last quarter. Finally, Directional Asset Management purchased a new position in Waste Management during the 4th quarter valued at $1,361,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Trading Up 0.1%

Shares of NYSE WM opened at $224.73 on Monday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The firm has a market cap of $89.83 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.76 and a beta of 0.44. The business has a fifty day simple moving average of $227.62 and a two-hundred day simple moving average of $227.86. 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 (NYSE:WM) last posted its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 EPS. Analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on WM. UBS Group upped their price objective on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Citigroup lifted their target price on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. 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 report on Thursday, July 30th. Scotiabank raised their price target on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Waste Management has an average rating of “Moderate Buy” and an average target price of $258.89.

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.