Insight Wealth Strategies LLC Sells 12,578 Shares of Waste Management, Inc. $WM

Insight Wealth Strategies LLC lessened its stake in shares of Waste Management, Inc. (NYSE:WM) by 92.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,024 shares of the business services provider’s stock after selling 12,578 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Waste Management were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WM. Vanguard Group Inc. grew its stake in Waste Management by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 38,990,067 shares of the business services provider’s stock valued at $8,566,508,000 after buying an additional 553,605 shares during the last quarter. State Street Corp lifted its position in Waste Management by 1.6% during the 4th quarter. State Street Corp now owns 17,390,748 shares of the business services provider’s stock worth $3,820,921,000 after acquiring an additional 281,456 shares during the last quarter. Geode Capital Management LLC boosted 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 valued at $1,972,371,000 after acquiring an additional 117,476 shares during the period. Norges Bank bought a new stake in Waste Management during the fourth quarter valued at about $1,022,916,000. Finally, Northern Trust Corp grew its position in shares of 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 purchasing an additional 11,688 shares during 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 recently weighed in on WM. Oppenheimer cut their price objective on Waste Management from $264.00 to $263.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Citigroup lifted their price target on Waste Management from $263.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Canadian Imperial Bank of Commerce lowered Waste Management from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. TD Cowen raised their price objective on shares of Waste Management from $270.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Scotiabank boosted their target price on shares of Waste Management from $250.00 to $260.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Waste Management presently has an average rating of “Moderate Buy” and an average target price of $258.89.

Waste Management Stock Down 0.3%

NYSE WM opened at $226.19 on Thursday. Waste Management, Inc. has a twelve month low of $194.11 and a twelve month high of $248.13. The stock has a market cap of $90.41 billion, a PE ratio of 32.04, a PEG ratio of 2.79 and a beta of 0.44. The firm has a 50-day simple moving average of $227.43 and a 200 day simple moving average of $227.93. 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 (NYSE:WM) last posted its quarterly 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. Waste Management had a return on equity of 31.68% and a net margin of 11.11%.The firm had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts forecast 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.