Sunpointe LLC Buys Shares of 4,947 Waste Management, Inc. $WM

Sunpointe LLC bought a new position in shares of Waste Management, Inc. (NYSE:WM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,947 shares of the business services provider’s stock, valued at approximately $1,103,000.

Several other large investors have also recently made changes to their positions in WM. Brighton Jones LLC increased its holdings in Waste Management by 51.1% in the 4th quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 2,320 shares during the last quarter. Sprott Inc. acquired a new position in Waste Management during the first quarter worth $325,000. Sei Investments Co. boosted its position in shares of Waste Management by 8.0% during the second quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock worth $62,339,000 after buying an additional 20,122 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Waste Management by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 366,416 shares of the business services provider’s stock valued at $83,843,000 after buying an additional 148,590 shares during the period. Finally, Glenview Trust co lifted its stake in Waste Management by 5.1% during the 2nd quarter. Glenview Trust co now owns 3,338 shares of the business services provider’s stock worth $764,000 after acquiring an additional 162 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WM. Stifel Nicolaus lifted their target price on Waste Management from $252.00 to $261.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. UBS Group raised their price objective on shares of Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 7th. Barclays upped their target price on shares of Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, TD Cowen raised their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Waste Management Price Performance

WM stock opened at $224.73 on Monday. The business’s 50-day moving average is $227.62 and its two-hundred day moving average is $227.86. 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 firm has a market capitalization 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 announced its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.04. The business had revenue of $6.68 billion during 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 for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. Analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal 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.