Great Lakes Advisors LLC Takes Position in Waste Management, Inc. $WM

Great Lakes Advisors LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, HoldingsChannel reports. The firm bought 3,413 shares of the business services provider’s stock, valued at approximately $761,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Danske Bank A S bought a new stake in Waste Management during the second quarter valued at $146,053,000. Oxbow Advisors LLC lifted its position in shares of Waste Management by 0.7% in the 2nd quarter. Oxbow Advisors LLC now owns 8,229 shares of the business services provider’s stock worth $1,834,000 after buying an additional 54 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Waste Management by 23.6% in the 2nd quarter. Wealthfront Advisers LLC now owns 102,313 shares of the business services provider’s stock worth $22,803,000 after buying an additional 19,558 shares during the last quarter. Alpine Woods Capital Investors LLC boosted its holdings in shares of Waste Management by 23.9% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 30,639 shares of the business services provider’s stock valued at $6,829,000 after buying an additional 5,916 shares during the period. Finally, Citizens Financial Group Inc. RI raised its stake in Waste Management by 13.6% during the second quarter. Citizens Financial Group Inc. RI now owns 16,266 shares of the business services provider’s stock worth $3,625,000 after acquiring an additional 1,951 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the topic of a number of recent research reports. Oppenheimer cut their target price on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings upgraded Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 7th. Royal Bank Of Canada boosted their price objective on Waste Management from $240.00 to $244.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Citigroup upped their price objective on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Finally, Stifel Nicolaus increased their target price on Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Waste Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.89.

Waste Management Stock Down 0.5%

Shares of Waste Management stock opened at $223.87 on Friday. 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, Inc. has a 1-year low of $194.11 and a 1-year high of $248.13. The business’s fifty day moving average price is $228.06 and its two-hundred day moving average price is $227.76. The company has a market capitalization of $89.48 billion, a P/E ratio of 31.71, a PEG ratio of 2.83 and a beta of 0.44.

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

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.