Cornerstone Advisors LLC Acquires Shares of 18,897 Waste Management, Inc. $WM

Cornerstone Advisors LLC acquired a new position in shares of Waste Management, Inc. (NYSE:WM) during the 2nd quarter, Holdings Channel reports. The firm acquired 18,897 shares of the business services provider’s stock, valued at approximately $4,212,000.

A number of other institutional investors also recently modified their holdings of WM. Financial Network Wealth Advisors LLC grew its stake in shares of Waste Management by 55.3% in the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 47 shares in the last quarter. RHL Group LLC acquired a new stake in Waste Management in the 4th quarter worth about $29,000. Mcguire Capital Advisors Inc. bought a new stake in Waste Management in the 4th quarter valued at about $29,000. JPL Wealth Management LLC acquired a new position in shares of Waste Management during the 3rd quarter worth approximately $30,000. Finally, Main Street Group LTD acquired a new position in shares of Waste Management during the 1st quarter worth approximately $31,000. Institutional investors own 80.40% of the company’s stock.

Waste Management Stock Performance

Shares of Waste Management stock opened at $225.17 on Friday. 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 PE ratio of 31.89, a price-to-earnings-growth ratio of 2.77 and a beta of 0.44. The company has a 50 day moving average of $227.96 and a 200-day moving average of $227.79. Waste Management, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings data 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 net margin of 11.11% and a return on equity of 31.68%. The business had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm posted $1.92 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Waste Management, Inc. will post 8.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Oppenheimer lowered their price objective on Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective on Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Stifel Nicolaus increased their target price on Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce cut Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Waste Management presently has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Waste Management 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.