OneDigital Investment Advisors LLC Sells 2,652 Shares of Waste Management, Inc. $WM

OneDigital Investment Advisors LLC cut its stake in Waste Management, Inc. (NYSE:WM) by 25.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,823 shares of the business services provider’s stock after selling 2,652 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Waste Management were worth $1,744,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Waste Management in the fourth quarter worth about $1,022,916,000. Corient Private Wealth LLC grew its holdings in shares of Waste Management by 279.0% during the 4th quarter. Corient Private Wealth LLC now owns 1,075,906 shares of the business services provider’s stock worth $236,387,000 after acquiring an additional 792,037 shares during the period. Diamant Asset Management Inc. raised its position in shares of Waste Management by 23,051.5% in the 1st quarter. Diamant Asset Management Inc. now owns 770,945 shares of the business services provider’s stock worth $17,716,000 after acquiring an additional 767,615 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Waste Management by 3,209.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 681,366 shares of the business services provider’s stock valued at $150,466,000 after purchasing an additional 660,776 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Waste Management by 1.4% in the fourth 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. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WM shares. Oppenheimer dropped their price objective on shares of Waste Management from $264.00 to $263.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 8th. Barclays boosted their price target on Waste Management from $270.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. UBS Group raised their price objective on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Scotiabank lifted their price objective on Waste Management from $250.00 to $260.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Finally, Citigroup increased their target price on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.89.

Waste Management News Summary

Here are the key news stories impacting Waste Management this week:

• Positive Sentiment: Waste Management has generated a 58.6% total stock gain over the past five years, reflecting the company’s defensive business profile and relatively consistent long-term performance. Its discounted-cash-flow valuation was described as approximately in line with the share price, which may support the view that the stock is not materially overvalued under cash-flow assumptions. Where Does Waste Management (WM) Value Sit After A 59% Gain?
• Neutral Sentiment: Recent “waste management stocks” coverage provides general sector context but does not identify a new development specific to Waste Management that would materially change its earnings outlook. Waste Management Stocks To Consider – August 15th
• Negative Sentiment: The valuation analysis flags a low value score and indicates that earnings-based multiples place WM at a premium. With the stock trading near its 50-day and 200-day averages and at a forward earnings valuation that is not inexpensive, concerns about limited upside or elevated valuation could weigh on investor enthusiasm.

Waste Management Stock Up 0.7%

Waste Management stock opened at $225.05 on Thursday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.87 and a current ratio of 0.91. Waste Management, Inc. has a one year low of $194.11 and a one year high of $248.13. The stock has a market cap of $89.95 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 2.75 and a beta of 0.44. The stock has a fifty day moving average of $227.84 and a 200 day moving average of $227.77.

Waste Management (NYSE:WM) last issued its quarterly earnings data on Tuesday, July 28th. The business services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.04. The firm had revenue of $6.68 billion during the quarter, compared to the consensus estimate of $6.71 billion. Waste Management had a net margin of 11.11% and a return on equity of 31.68%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, sell-side analysts predict that Waste Management, Inc. will post 8.14 EPS for the current year.

About Waste Management

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.