Janney Montgomery Scott LLC Has $69.09 Million Position in Waste Management, Inc. $WM

Janney Montgomery Scott LLC lifted its stake in shares of Waste Management, Inc. (NYSE:WM) by 5.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 310,008 shares of the business services provider’s stock after acquiring an additional 15,246 shares during the period. Janney Montgomery Scott LLC’s holdings in Waste Management were worth $69,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WM. Brighton Jones LLC grew its stake in shares of Waste Management by 51.1% during the fourth quarter. Brighton Jones LLC now owns 6,861 shares of the business services provider’s stock worth $1,384,000 after buying an additional 2,320 shares during the last quarter. Sprott Inc. bought a new position in shares of Waste Management in the 1st quarter valued at $325,000. Sei Investments Co. boosted its holdings in shares of Waste Management by 8.0% during the 2nd quarter. Sei Investments Co. now owns 272,438 shares of the business services provider’s stock valued at $62,339,000 after acquiring an additional 20,122 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Waste Management by 68.2% during 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 acquiring an additional 148,590 shares in the last quarter. Finally, Glenview Trust co grew its position 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 during the last quarter. Institutional investors own 80.40% of the company’s stock.

Waste Management Price Performance

Shares of WM opened at $223.95 on Tuesday. The business has a 50-day moving average of $227.77 and a 200-day moving average of $227.81. 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 company has a market capitalization of $89.52 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth 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 earnings results on Tuesday, July 28th. The business services provider reported $2.02 EPS for the quarter, beating the consensus estimate of $1.98 by $0.04. The business had revenue of $6.68 billion for 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 firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 earnings per share. As a group, equities research analysts anticipate that Waste Management, Inc. will post 8.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on WM. Royal Bank Of Canada increased their target price 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. Wells Fargo & Company reduced their price target on Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a report on Thursday, April 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 report on Tuesday, August 4th. Canadian Imperial Bank of Commerce downgraded shares of Waste Management from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, Barclays upped their price target on shares of Waste Management from $270.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.