Mirae Asset Global Investments Co. Ltd. Reduces Position in Waste Management, Inc. $WM

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of Waste Management, Inc. (NYSE:WM) by 8.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,103 shares of the business services provider’s stock after selling 7,140 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Waste Management were worth $18,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevated Capital Advisors LLC bought a new position in Waste Management in the 4th quarter valued at $25,000. RHL Group LLC bought a new stake in shares of Waste Management during the fourth quarter worth $29,000. Financial Network Wealth Advisors LLC boosted its stake in shares of Waste Management by 55.3% during the fourth quarter. Financial Network Wealth Advisors LLC now owns 132 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 47 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in Waste Management in the 4th quarter worth about $29,000. Finally, JPL Wealth Management LLC purchased a new stake in Waste Management in the 3rd quarter valued at about $30,000. 80.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WM shares. Wells Fargo & Company reduced their target price on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce lowered Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Weiss Ratings raised Waste Management from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 7th. Scotiabank lifted their target price on Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Finally, Stifel Nicolaus upped 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. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waste Management currently has a consensus rating of “Moderate Buy” and an average price target of $258.89.

Waste Management Stock Performance

Shares of NYSE:WM opened at $224.44 on Friday. The firm has a 50 day moving average of $227.53 and a 200 day moving average of $227.90. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $89.71 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.44. Waste Management, Inc. has a 52 week low of $194.11 and a 52 week high of $248.13.

Waste Management (NYSE:WM) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (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 business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 EPS. On average, sell-side analysts predict that Waste Management, Inc. will post 8.14 earnings per share for the current fiscal year.

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.