Longfellow Investment Management Co. LLC Buys 4,157 Shares of Waste Management, Inc. $WM

Longfellow Investment Management Co. LLC grew its stake in Waste Management, Inc. (NYSE:WM) by 54.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,763 shares of the business services provider’s stock after acquiring an additional 4,157 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in Waste Management were worth $2,622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 during the period. State Street Corp grew its holdings in shares of Waste Management by 1.6% in the 4th 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 during the period. Geode Capital Management LLC increased its position in shares of Waste Management by 1.3% in the 4th 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 buying an additional 117,476 shares in the last quarter. Norges Bank acquired a new stake in Waste Management during the 4th quarter worth $1,022,916,000. Finally, Northern Trust Corp lifted its holdings in Waste Management by 0.3% during the third quarter. Northern Trust Corp now owns 3,954,519 shares of the business services provider’s stock worth $873,276,000 after acquiring an additional 11,688 shares in the last quarter. Institutional investors own 80.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on Waste Management from $265.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Barclays increased 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. Citigroup lifted their price target on shares of Waste Management from $263.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, July 10th. TD Cowen upped their price target on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus increased their price objective on shares of Waste Management from $252.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.89.

Waste Management Stock Performance

WM opened at $225.05 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.24. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13. The business has a 50 day moving average of $227.84 and a 200-day moving average of $227.77. The stock has a market cap of $89.95 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.75 and a beta of 0.44.

Waste Management (NYSE:WM) last released its quarterly earnings data 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 firm had revenue of $6.68 billion for 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 quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 earnings per share. On average, equities research analysts expect that Waste Management, Inc. will post 8.14 earnings per share for the current year.

More Waste Management News

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 Company 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.