Norris Perne & French LLP MI Has $17.36 Million Stock Position in Waste Management, Inc. $WM

Norris Perne & French LLP MI boosted its stake in shares of Waste Management, Inc. (NYSE:WM) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 77,886 shares of the business services provider’s stock after buying an additional 2,636 shares during the quarter. Waste Management accounts for 1.0% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 22nd biggest position. Norris Perne & French LLP MI’s holdings in Waste Management were worth $17,359,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WM. Vanguard Group Inc. raised its stake in shares of Waste Management by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock worth $8,566,508,000 after purchasing an additional 553,605 shares in the last quarter. State Street Corp grew its stake in shares of Waste Management by 1.6% in the fourth quarter. State Street Corp now owns 17,390,748 shares of the business services provider’s stock valued at $3,820,921,000 after buying an additional 281,456 shares in the last quarter. Geode Capital Management LLC increased its holdings in Waste Management by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 8,993,006 shares of the business services provider’s stock worth $1,972,371,000 after buying an additional 117,476 shares during the last quarter. Norges Bank bought a new stake in Waste Management during the fourth quarter worth $1,022,916,000. Finally, Northern Trust Corp lifted its stake in Waste Management by 0.3% in the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider’s stock valued at $873,276,000 after acquiring an additional 11,688 shares during the last quarter. Institutional investors and hedge funds own 80.40% of the company’s stock.

Waste Management Trading Down 0.8%

Shares of Waste Management stock opened at $224.44 on Friday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a 50-day moving average of $227.53 and a 200-day moving average of $227.90. Waste Management, Inc. has a 52-week low of $194.11 and a 52-week high of $248.13. The stock has a market cap of $89.71 billion, a PE ratio of 31.79, a PEG ratio of 2.78 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 EPS for the quarter, topping 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 analyst estimates of $6.71 billion. During the same period last year, the firm earned $1.92 earnings per share. Waste Management’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Waste Management, Inc. will post 8.14 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WM shares. Canadian Imperial Bank of Commerce cut shares of Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Scotiabank boosted their price target on Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Weiss Ratings raised Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 7th. Barclays lifted their target price on 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 increased their price target on Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently 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.